Despite the doom and gloom, the Baltic Dry Index has been ticking up for much of 2009

Despite the doom and gloom, the Baltic Dry Index has been ticking up for much of 2009, and that’s typically a sign we’ve got demand in the economy again. Yes and no, says my guest investor and blogger Paul Kedrosky.
It is a sign that the economy isn’t going to zero: That’s good. But amid the late 2008 panic inventories had gotten so low that an increase in orders is more a re-stocking than it is a recovery.
That said, there are a few speculative bets for investors with a high risk tolerance, especially among semiconductors. Watch the video for Kedrosky’s picks.