BALTIC DRY INDEX SINKING LIKE TITANIC

BDI peaked about same time the stock market did. From Wickpedia

Baltic Dry Index
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The Baltic Dry Index is an index covering dry bulk shipping rates and managed by the Baltic Exchange in London. According to Baltic Exchange, the index provides:
an assessment of the price of moving the major raw materials by sea. Taking in 40 shipping routes measured on a timecharter and voyage basis, the index covers supramax, panamax and capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain.
The index is made up of an average of the Baltic Supramax, Panamax and Capesize indices. These indices are based on professional assessments made by a panel of international shipbroking companies.
Since the cost of shipping varies with the amount of cargo that is being shipped (supply and demand), and since dry bulk is usually goods that are precursors to production (like cement, coal, and iron ore), the index is also seen as a good economic indicator of future economic growth and production.

It is my own opinion that ALL we are seeing is a bear market bounce, until proven otherwise.

Fed tomorrow, WHO doesnt think they will pander to markets demand, they dictate nothing.

50 basis is what is being DEMANDED, IMHO anything less will be sold.

VLO and other refiners are bouncing, oversold restaurants have bounced like Darden, and Calif Pizza Kitchen, Home Builders and some banks catching bids along with commodities.

We are nearing resistance in the SPX of which the 1370 -1380 are should not be broken this time around.....I would reasess if it is.

Duratek