– Baltic Dry Down 90% Of Days Since Cramer “Stressed Its Importance”; Crashes To New 29-Year Low (ZeroHedge, Feb 4, 2015):
And the collapse just keeps going… since Thanksgiving, The Baltic Dry has fallen on 43 or the 47 days, down over 60% from the “China growth is back and all-is-well” hope-filled days of late October (when Jim Cramer “stressed the importance of watching the Baltic Dry Freight Index,” as his bullish thesis confirmation). At 569, The Baltic Dry is inching ever closer to what will be the lowest level ever (554 on 7/31/1986) for the global shipping cost indicator…
One or two more days like this and it will be the all-time low…
click image for video explanation…
Jim Cramer shares insight on the latest economic data out of China and stresses the importance of focusing on the nation’s baltic freight data. There was a significant jump in baltic freight and copper is strengthening too.
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Nailed it!!!!!
I guess the cartels could book capacity for the next quarter, under some CIA/mossad shell company, to kick the can down the road a bit more, then cancel the booking.
And we’d all be fooled again to think recovery was up and going.
Along with commodities, this is a very important aspect of the market to track. Commodities are also way down.
The market has been gyrating nearly a billion dollars a week…….out of an economy that claims $14 trillion a year, that is really bad news. A “correction” is in our near future.