Despite its 98% crash from 2008 highs, and its plunge to record (35 year-plus) lows, the recent rally (off sub-300 lows) sparked a wave of exuberance with such luminaries as Jim Cramer proclaiming this a sign that everything is fixed again in China. Having risen non-stop since Feb 10th, coincidentally the same time that the entire world suddenly and unexplainedly went full risk-on short-squeeze buy-buy-buy, The Baltic Dry Index dropped today – which should not surprise many as China's Containerized Freight Index crashes to record lows…
The Baltic Dry drops for the first time since Feb 10th…
It appears BDIY gets over-excited relative to CCFI's lead…
And tthis won't help…
With Iron Ore prices down 6 days in a row, the entire hope-strewn short-squeeze has been erased.
Запись The Dream Is Over – Baltic Dry Bounce Ends впервые появилась crude-oil.top.