Fund climbs with dry bulk shipping surge. $BDRY Breakwave Dry Bulk Shipping ETF: Week 28 commentary.

by Dave Walker

Rand Logistics m/v Tecumseh loads grain at a Richardson International terminal in Thunder bay, Canada.

BDRY profile: ”The Fund’s investment objective is to provide investors with exposure to the daily change in the price of dry bulk freight futures, before expenses and liabilities of the Fund, by tracking the performance of a portfolio consisting of a three-month strip of the nearest calendar quarter of futures contracts on specified indexes that measure rates for shipping dry bulk freight.” Source: drybulketf.com

$BDRY Forward Freight Agreement weighting: Capesize: 50%, Panamax: 40%, Supramax: 10%.


As we wind down to a summer hiatus for the Superior Maritime blog, Week 28 saw $BDRY reach 16.61 in its continued climb. With headlines bringing this ETF into the mainstream news, we watch with interest as exuberance takes over.

Our RSI leveled off to 96.99, still heavily peakish by indication accompanied by a MACD that steepened its bullish gradient. Given the overall surge in the shipping indices, (see index charts below) the markets may be thumbing their collective noses at mere chart-readers like us.

With the fund pushing well through our old $12 – $14 resistance band from Week 18, we’re keeping an eye on that area for support should consolidation kick in for $BDRY. With several of our indicators still pointing at peakishness, our next upside target is in the $18.00 zone. Whether it becomes a possible consolidation point or a new rung in the dry bulk ladder remains to be seen, as optimism spreads in the dry bulk market.


Baltic Supramax Index, Week 28 2019.


Baltic Panamax Index, Week 28 2019.


Baltic Capesize Index, Week 28 2019.


Behold the flying index: Baltic Dry Indices: Week 28 commentary. 


*For further insight on financial freight futures, pay a visit to https://cotunchained.com/ for Commitment of Traders data on SupramaxPanamax and Capesize positions.


*Disclaimer: superiormar.com holds no stock in $BDRY.

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