Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Two Ways To Play: Commodity Comedown

By

Strengthen your portfolio in good times and bad.

PrintPRINT
Bloomberg reports commodities tumbled to a four-month low as the dollar gained and perceptions manifested that slower economic growth would erode demand for raw materials.

Crude oil fell $4.92 to $115.12 as of 3:30 PM EST, falling to its lowest levels since early May. Oil has dropped approximately 27% from the record price of $147.27 on July 11.

Meanwhile, the dollar had its biggest jump in four years after European Central Bank President Jean-Claude Trichet said economic growth would be "particularly weak" through the third quarter.

As of midday, the CRB Index of 19 raw materials fell 2.2% to 390.71.

Professor Kevin Depew talked about this space in today's DepewTube: In a Material World.

From the Bull Pen: The drop in commodities aside, bulls know the equity markets were poised to continue this rally. The fourth higher low put in by the S&P 500 adds to the positive technical picture and bulls can play the Ultra S&P 500 (SSO) with sell-stops in the $58-$60 range.

From the Bear Cave: The Ultrashort oil and gas (DUG) remains in play. Bears can continue to ride this inverse ETF.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE