ost charts & thoughts - june 2012, page-54

thanks bikemad,

I can't believe that the 10 day run up in the IO index was met with a declining sp. This $7.50/T improvement in the index was a 38% retracement of the previous $19.50/T drop in the index which triggered /coincided with a 50c fall in the sp from 135c to 90c.

Fundamentals seem to count for nothing on the upside , but everything on the dowmside at present in the market. Very frustrating

Alas, the IO 62% index has now stopped its 10 day advance and has fallen from $137.4/T to $135.4/T over past two days.

I'm a stuckholder now , relying on patience.

FT