Baltic Dry IndexThe BDI or Baltic Dry Index - measures the cost of shipping goods worldwide.
For 2022 - the BDI is down -34.14%.
Ukraine was a large disruption for Grains - Barley, Corn, and Wheat.
Factually had material impact.
The index's value is generated by the demand for the raw materials
and the supply of ships available to transport them.
There is absolutely no shortage of Ships.
Rather the Demand for Products is vastly reduced as Prices began to
move far higher.
768,300 metric tons of Ukrainian grain were exported by Rail in early May.
The trend towards overland has increased markedly.
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Overwhelming Price increases have dampened demand from Egypt to India as
prices for Staples were extreme.
Egypt is typically the world's largest wheat importer, buying more than 60%
of its wheat from abroad, with Russia and Ukraine accounting for about 80%
of government and private sector imports last year.
106M people live within Egypt's borders. 67 MIllion of them receive Bread Subsidies.
Ripe for further disruptions to Supply and a repeat of the prior "Bread Riots" of
1977 when Sh_t went South in a very big hurry.
Protests against the austerity measures in Cairo were far different then, Bread is
symbolic.
Contrast this with today's environment and we will see how the forced austerity
becomes a hunger chant for the Ages.
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Egypt is merely One of the Dozens of Countries that are facing Food Austerity.
From Plentiful to barren, don' t believe it can't happen here, it can and will.
BBI
2 sharks - going up now
the first shark just realized
change in trend (typical after shark)
and 3 areas of TP in circle
did Rafal Zaorski stop shorting BBI ?
BBI on watch for entry for long swingabout to form golden cross in the coming week or 2, accompanied by trendline as support as well as 100dma. from chart, I'll start scaling in around$1.
BBI short termI do not think it closed the gap @ 0.71 yet.
It as well may - and should - test resistance (descending channel from May 2019) at the same level of 0.71.
So I think these two events will happen this week.
And then... It did try to break through this channel 4 times already. Will this 5th time be successful and we will see it go back to 0.90-1.00 and then up to 4.00 or will we see lower lows?
Mind the fundamentals and news.
Who was here looking at that 80 cent BBI DipBBI is still a long in my opinion. For those of you who don't know, I think the current entry price is still pretty good. Post market recovery, this might start rallying again. Resistance and panic selling already been quite high and the negative positive retracement wedge is likely only to be better given trader's psychology. As always, this is on an opinion based basis. Invest at your own risk and do your own due diligence.
4 Penny Stocks I'm Bullish On: MARK, BBI, ADOM, and SLRXThese are currently 4 penny stocks that I'm bullish on for a potential reentry: $MARK been beaten up alot, and I think the resistance might pop soon for a gap fill. BBI has been mostly bearish and should retrace soon for the next positive wedge. ADOM is a long hold. SLRX is one of those stocks that may be due for even another breakout. As always, please pursue at your own risk. Everything I say is on an opinion based basis. Do your own due diligence.
BBIBBI blackbird energy on the tsxv is shaping up a nice ascending triangle. I am a long-term holder of this from .19c but would be looking to add on a breakout above here.
