I would buy into any weakness today beacuse the world is getting ready to rebound. The USA is prepared to initiate a strong return to industrialization, improved trade relations and safer banking. In turn, other nations will follow our lead and demand for energy will return. Alternate fuels will take time. In the mean time, FRO will be a tasty choice.
You are an idiot, ready to rebound? maybe in 2010, 2009 is going to be a difficult year. We have a lot of very deep-seated problems that will take a long time to recover from. Unemployment is up and going higher, housing is down and probably going a bit lower, consumer confidence is in the tank. Mortgages and credit cards are in default. Businesses are not selling, manufacturers are not manufacturing, banks are failing. Where the F do you live? You are stupid.
dry shipping market has found balance. at rates lower than operational expenses. still more damage to be done to individual companies as weaker companies die off. but thinning of the herd means more grass for the strongest. bulk market is recovering and rates will continue to climb slowly for another 1-2 years.
stock market will recover in 2009, economy will recover and unemployment will go down in 2010.
but the recover will be weak or flat for a full cycle 5 years or so. next recession will feel more painful than it is. Like slapping a sunburn. The slap will not be hard but the memories of previous recession will make it feel like catastrophe.