Loading ...$CRB H&S
Just think, the entire time this was being built out, the stock market has been shooting to the moon. Now, when the $spx finally rolls over from an astronomical level, this is what commodity longs get in return. I don’t know whether to laugh or cry. Have a good weekend.
I don’t mean to contradict the gist of your point. I do mean however to be repetitive and bring up something I mentioned earlier in the day.
There are commodities and there are commodities. They don’t always move together. Interestingly copper pricing was steady today and in fact the 30 day chart on Kitco shows it at about the same price as a month ago. It is still above US$2.50/lb even though for a month it it has looked ready to collapse to far lower levels. I think it is interesting to consider why it has held up. (Pb also.)
Understood. Look at $palladium too. It has been in a screaming bull market.
But, I do think looking at the complex is useful, primarily to see if inflation is finally kicking in. It certainly doesn’t look like it.