Wednesday, July 15, 2009

Uh Oh - Leading Indicator Baltic Dry Index Turns Down

I have no idea what's going on with the markets right now. Just when things look most ominous, they fire up again this week big time...isn't that the way markets always work!

Well for what it's worth, our friend Brian Hunt made an astute ovservation that the Baltic Dry Index has turned down once again...this classic shipping measure is often a leading indicator of economic activity. The BDI turned lower ahead of the last downturn...actually falling right through the this could be an ominous sign for the stock market, today's rally not withstanding.

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