Excel Maritime Carriers Ltd.(fka EXMCQ)

[Ecomike]

I have avoided this sector, and stocks like EXM for a long time now, but I am watching the BDI right now to see if this years BDI breaks out over last years numbers on a cyclical basis or not. The recent 3 month rally in the BDI on a year to year, same month comparison, never reached last years highs, but the BDI rallied today and the year to year same day numbers are now converging for the first time this year.

http://www.dryships.com/pages/report.asp

If the BDI for this month or next month finally breaks out higher than last years highs, in spite of a CAPEX ship glut, it may be an early warning of renewed relative strength, but right now Europe seems to hold all the cards, and could pull the plug with lights out for the world, and a great deal of ship financing is backed by Europe banks which are now in deep trouble!!!