Baltic Dry Shipping Index Approaching Just Above 1 Year Lows
Posted By thestatedtruth.com on July 2, 2010
By Tyler Durden on 07/02/2010Â Â Â Zero hedge
The decoupling theorists are about to experience a second smack down in 3 years. After the biggest bubble of 2008 blew up spectacularly and made beggars out of the Greek CEOs of various dry bulk shippers, only to see their fortunes go back to unchanged again, it looks like they may be retesting the benevolence of NetJets repo men for the second time. The BDIY chart has now completed a rather mutated head and shoulders, after dropping nearly two thousand points in the span of a month – the fastest plunge since the S&P 666 days. And with the Bank of China in liquidity salvage mode as reported earlier, look for much more gravity to come in this index.
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