Friday, December 12, 2008

Baltic Dry Index (BDI) +53 to 764

The BDI is turning up again as it advances 53 points today and bounces off its low point that it hit last week.

We think that this index may have bottomed last week and see the start of a shipping turnaround in process. Expect the shipping stocks to continue their rally despite the slight pullback yesterday. This looks a replay from December 2005 through October 2007. This is where you accumulate stock (at these cheap levels) before everyone figures it out. Any shares under the $10 - $12 level is an absolute steal.