$BDRY Breakwave Dry Bulk ETF: Week 30 commentary.

by Dave Walker

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%.

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For Week 30 $BDRY confirmed our upside $18.00 tentative resistance target and spent the week consolidating. So far $BDRY seems to have some support from our Week 29 $16.50 – $17.00 ideas, with the fund closing the week at $16.59.

Our RSI retreated with the consolidation to 85.52, still in quite high territory for BDRY. The MACD carried on climbing, yet to acknowledge the fund’s pause.

It may be early days yet, but the pause in $BDRY has us casting an eye over our old $12 – $14 resistance/support zone as BDRY gingerly finds its way amongst weakening dry bulk futures markets.

Baltic Supramax Index, Week 30 2019.

Baltic Panamax Index, Week 30 2019.

Baltic Capesize Index, Week 30 2019.

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

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

July 8, 2019July 9, 2019

$BDRY Breakwave Dry Bulk #ETF: Week 27 commentary.

by Dave Walker

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%.

Taking a strong leap to close at $15.02, $BDRY gained strength in Week 27 with the surge of optimistic sentiment in dry bulk shipping.

The MACD rode along with the upward wave, finally reaching past its zero point into the positive as the RSI pushed yet further into peakish country at 96.30.

With this gap-up and strong surge we haven’t said goodbye to our $12 – $14 resistance ideas from Week 18 yet, although a continued strong showing by $BDRY may consolidate and turn this zone into support. Some consolidation would calm our indicators down a little and possibly lead to another step in the dry bulk stairway. For now, let’s enjoy the ride.

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

Baltic Dry Indices: Week 27 commentary.

Baltic Supramax Index, Week 27 2019.

Baltic Panamax Index, Week 27 2019.

Baltic Capesize Index, Week 27 2019.

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

July 2, 2019July 2, 2019

$BDRY pushes further. Breakwave Dry Bulk ETF: Week 26 commentary.

by Dave Walker

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

A small gap up and a close at 13.15 marked the slow climb in $BDRY for Week 26, with the fund showing some backing from some new-found dry bulk market optimism. Freight Investor Services put it succinctly – “hotter than a billy goat with a blowtorch.”

With the fund’s up-move, our RSI pushed higher to 75.41, the indicator giving further peakish indications even with such a slow steady move upwards. The MACD, just shy of zero values, continued its bullish trend.

The overall bullishness in nearby dry bulk futures has had a positive effect on BDRY as it continues its long, slow push into our $12 – $14 resistance ideas. Should the positivity continue in BDRY, our Week 22 $10.50 – $11.00 support thoughts may consolidate further, giving a decent foundation.

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