The Baltic Dry Index, which covers drybulk shipping rates and is managed by the Baltic Exchange in London, jumped 116 points Friday to close at an all-time high of 7,702 -- more than 400 points higher than where it closed Monday. The index, which measures rates on 40 shipping routes on a time charter and voyage basis, has set an all-time high with every close this week.[According to AP (reported on Yahoo Finance), Aug 31st, 07], Although the Water transportation group seems to loose some ground in the month of August, they are still in the top 15% of the market, here is my question: should be waiting for a pull back or buy something early this week? I may wait till Wed. to get more favorable entry point (i.e. pull-back).
UPDATE: Sold 20 Sept 75 Calls at $4.20 (On Sept. 6th 07)
UPDATE: Bought 20 Sept 75 Calls @ $2.35 (on Sept. 5th 07 @7:12am)
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