|Day Low/High||6.70 / 7.14|
|52 Wk Low/High||4.27 / 11.82|
Until that action dies it is difficult to be too bearish.
The good news is that there is some stock picking that is working well.
Bulls gain strength from Apple repatriation announcement, short covering.
This market may be extended by just about any measure, but that doesn't mean you should be fighting it.
With the drybulk market having reached a 30 year low in 2016, the outlook for 2017 - and beyond - has significantly improved, says Genco Shipping President John Wobensmith.
Howard Marks' Oaktree Capital has a track record of finding great underperformers.
This is a stock pickers market and a good time to detect relative strength and weakness plays.
Grizzled market veterans have been placing large bets on a global recovery in beaten-down industries. Maybe we should take their cue.
Dry bulk shippers have risen from their lows and are giving positive signals.