See the chart here. Now, are we overbought or is shipping a ground floor opportunity to get in? Looks like $3,000 to $230,000 is the target somewhere in 2009! Buy and Hold Through January - April when China imports the most ore for the year. Here are a few good reasons to Buy and Hold:
1) Banking is getting back online.
2) Investors are boarding shipping companies now.
3) Chinese steel makers wanted the new annual pricing for ore to start from January 1, instead of from April to get the shippers moving sooner. China’s iron ore stockpiles at its major ports and warehouses had exceeded a record 100-million tons.
