Kind of difficult to see because the drop is so vertical but the BDI shows being more than 5000 points below its 200 DMA.Actually I just saw a quote on CNBC Asia that at showed BDI down another 10% from where it is on the chart.
I'm not sure what to conclude but it clearly reveals how crazy the last couple of months have been.
4 comments:
Nice correlation b/w BDI and AGU and POT... today's rally notwithstanding.
R in NY
Claymore's Delta Global Shipping Index (SEA) has similar volatility. I continue to look, but no touchy. :-)
Paul
2.5 trillion pledged by EU countries for bailout. I think they bought them selves a nice rally. They will probably also avoid a financial meltdown, which was probably their main goal.
This does not mean we and they will not be turning Japanese for several years.
seg
Isn't this connected to the Letter of Credit problems that Importers are having?
OG
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