Ahoy There!
The relevance of this late night research is a matter of opinion. You might have already picked up on this, but Boomer James (being a slow steamer) has looked over the BDI tonight!!
The BDI reached the following lows during the past 10 Years.
2000 Feb 7th 1276
2001 Dec 17th 868
2002 Feb 1st 908
2003 Feb 3rd 1530
2004 Jun 22nd 2622
2005 Aug 3rd 1747
2006 Jan 23rd 2084
2007 Feb 1st 4219
2008 Dec 5th 663
2009 Jan 2nd 773
2010 Jul 15th 1700** yet to be declared official
The month of February stands out as the Laggard leader, followed closely by December and January. If you are considering a LONG dry bulk investment (or adding to an existing LONG position) you could “lay up” waiting for the Ides of March. It does not look like this is the right time of year to buy a shipper.
Readers are reminded that Ski holds the opinion that shipping stocks (at the present time) are suggested as trades, best suited for “attentive momentum investors” when compared to the best interests of traditional LONG investors of 1 year or more. Water Transportation Surfing would best describe his suggested investment mode of operation.
Good Fortunes
Ski
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