www.TheSeaNation.gr

Looks like we are aboard a ship and master (captain) has given an order to the engine room, for ''full spead astern'', (όπισθεν ολοταχώς), via the engine room telegraph apparatus which situated at all ships' bridge.

Capesizes are suffering the most in spot market, although there is a solid interest for tc period candidates at current low levels. Same is a ''deja vu'' situation when operators seeking vessels for tc period as market trading in low levels, and looking forward/wishing for an improvement of rates in future, so they can earn a lot.

Quite risky indeed. Panamaxes/Supras/Handies are following the decline but in less bearish momentum than Capesizes. Technically, in the second chart you can watch the daily tc equivalent for each type of vessel.

Mark the usd10,000 daily. All vessels' type/sizes are close on that. In case all sizes drop below that level then things start becoming very ugly. In the first and main chart you can observe the bearish momentum as all candles are ''thick red''.

Such a technique of candlesticks is called ''Heikin-ashi''. Another japanese technique. (http://www.investopedia.com/terms/h/heikinashi.asp). Ichimoku cloud, Heikin Ashi, Kagi, Kairi, are all japanese techniques and the extremely high professionals use those methods, (such as major hedge-funds, Goldman Sachs, Soros etc), which although each one might look not so difficult, but, a combination of all is quite complicated. Current price's condition has newly created ''a very strong support area''. Same is between 800 and 1000.

The last figure is always a psycological factor, but these days has also a tremendous technical importance. In case price closes weekly (any friday) below that pre-described region, things are becoming more than tragic. However according to my experience this is extremely difficult to happen, at least at first approach.

Not only coz is below the Ichimoku Cloud (a basic factor to determine long term bullish or bearish market), but there are a couple of other reasons/indicators which confirm that, and unfo am not in position to reveal, as same is a professional secret. (sorry Pals). Keep always in mind though, that everything can happens in the markets, and once more remind you, that we expect a large downward correction, in Global Stock Exchanges within this year.

Stelios Lazaris, md Maritime Investments A.G. Zurich