Posted in Baltic Dry Index, Daily Comment, SPY on May 17th, 2009
The Baltic Dry Index has seen a huge drop in price over the last year or so. There has been a good percentage bounce lately, but the world cost of shipping raw goods is still a small fraction of the price a year ago. Downside momentum did subside as can be seen by the numerous [...]
Posted in Baltic Dry Index, Daily Comment, Gold on Feb 16th, 2009
Comrades Pelosi and Reid were in quite a hurry to pass the porkulus bill through the house and senate. Congress voted on a 48-hour public comment period prior to action. Not only did congress go back on that promise, they instead released the bill in such an untimely way that not even an Evelyn Wood [...]
Posted in Baltic Dry Index, Daily Comment, Gold on Jan 12th, 2009
Stocks were lower again today. Volume was still muted, and the advance/decline ratio still appears somewhat constructive. It still appears that the stock indexes are at least trying to trend sideways instead of down, at least on the daily perspective. The price action today is testing the pivot low area around 12/24 or so. This [...]
Posted in Baltic Dry Index, Daily Comment on Nov 10th, 2008
There really isn’t much to report regarding the stock indexes. On Friday there was a late day rally, but still leaving an inside bar. There was some follow-through early in the session today, but the rally faded on declining volume. Trend and momentum are still pointing south. However, there may be hope for the bulls. [...]
Posted in Baltic Dry Index, Daily Comment on Oct 2nd, 2008
Stock indexes and most commodity market continued in their downtrends today. Oil has retraced most of the earlier uptrend for the year. The grains have been crushed. The Euro has lost all ground gained in the last 12 months. The high flying ag stocks are in freefall, as are most metal and other basic material [...]