I get your point. The Capes rate is just above break even and that should be the low in a normal business. My point is, the rate is trending up. Do you want to buy a dry bulker when the capes rate has been $20K for many months, or after a horrible drop when the stock has been crushed, but the rates are now recovering and trending up almost every day?
Make that $8200 for Cape spot price today.
What does it cost to run the Capes and Panamax?
Capes spot price is about $7600 and Panamax is about $5900 as of yesterday.
Today the BDI is at 517 up again.
Yeah I know, terrible business and management. None of that matters if what you can charge continues to go up.
OK, got it. Lousy business. Lousy management.
BUT if what they can charge continues to go up every day as it has, then the price of the stock will also go up.
How about the BDI hits 500 this week - currently at 471.
Would be a nice recovery from the low of 290 on Feb. 10th.
The BDI was up again yesterday.
What does this stock trade at if the BDI is around the 5 year historic average of about 600?
Yeah, Apple is going to pay 40 to $50 billion dollars for Netflix.
In other fantasy news, Donald Trump admits he is a lousy human being
and should never be President.
You are mistaking the last bit of support for too many shorts.
Look out below once $85.50 breaks.