Thursday, August 8, 2013

Dry Bulk Sentiment turns

I reluctantly closed out my positions in GNK and EGLE today with gains of about 10%.

The recent downturn in the Baltic Dry Index from recent tops has been starting to weigh on the shippers. And there is talk of GNK going broke. I think that their will be a rally in commoditys due to weakness in the USD and I think that shipping prices will gain as a result, but the "trade" must be closed due to weakness in these holdings. Dianna still looking good, tho, and I wouldn't be surprised if it breaks out to new highs. But that may wait until the BDY breaks out.

MCP still doing good on the strength of metals today.

Silver and gold look to start a rally on the weak dollar.

Long NUGT.
control that pesky risk!

No comments:

Post a Comment

All comments are appreciated as it will give me a chance to adjust my content to any real people who may be out there. Thank you. gh