The way I have set out my analysis is a bit messy, hence why a had an error. The net number is now right, so freight now sits in the all in cost. Whereas i had it elsewhere.
Either way the net number was correct and I see no value in trying to pick the bottom, as I will probably be wrong.
I would be watching macro market conditions and would entertain a buy on the rise, even if it means paying a higher price once the bottom is found.
I think the negativity is really feeding in now and as a result IO price will go lower.
The following link was highlighted to me by jgunter.
