Its too early in the game for this to be a true bubble for commodities. However, this does set up the "wall of worry" and is a good indicator of more upside to come. Im like you, the more negative the news, the more I like it.
Lets hear some more of that "barbarous relic" talk. They can "barbarous relic" me all the way to $2,000 an ounce.
si -- i'm thinking about it. but not today. maybe we're going to see a little more downside tomorrow. also, if you notice there's serious negative news flow about commodities and the "commodity bubble" starting to flow now....which i am loving. another couple of days we could see a nice stampede (or slow drift out) of the sector which will make buying tremendous.
by the way, i think the idea of a "commodity bubble" is beyond ludicrous.
wow, guess i missed the spike in NEM. tuff, i'm just sitting tight with the metals now. the news flow is horrendous. no reason to try and trade this up and down. in fact, now i'm sorry i sold sinclairs 1/3 on those. now i'm focused on my shorts.
and RIMM, geez, can you believe the idiots buying into the latest hype? these guys got to be blind! or they don't live close enough to a wireless store to see the new products from Palm.
Both my ports are in the green. The energy side is taking a pasting while the metals are holding it up.
VLO reports blow out earnings yet they take it down. I guess Wall Street feels a 5-7 P/E is appropriate for these stocks.
A lot of pie in the sky, feel good comments from Bush on alternative energy that wont take effect for 5 years, possibly decades seeing how inefficient Congress has been lately. You still have to balance the price of the alternative against the price of oil and even at these crude prices, alternatives like ethanol arent that cheap.
If the drop in energy continues, its definitely a buy. In the meantime, the cyclone of the century across the globe is swatting Australia. Any bets on hurricanes this year?
Good comments...I love it when they knock VLO, NBR down like this....I bought PEIX on Friday after the Gates purchase and flipped it today after Bush's comments on letting the EPA delay the ethanol replacement of MTBE.
Taking NY's advice on the ADM play, but waiting for a pull back, somewhere in the $36 and change area.
Any thoughts on Oil sands plays in Canada?? I own CNI because I figure they need some way to get it to the refiners, and trains can haul alot more than trucks...