It just figures that commodities would hit the skids just as I’m going on a trip (I’m writing this while waiting for my plane to board). The long-term uptrends are intact, but in the short-term, we could be in for even more of a correction. Here is the bearish news I’m seeing today …
Energy, Mining Shares Fall Into Bear Market as Oil, Copper Drop From Peaks Global energy and raw-materials stocks fell into bear markets after plunging oil, gold, copper and wheat prices spurred declines in last year’s best-performing industries.
Deutsche calls the top of the commodity cycle
XX This article is so-so, but the comments are really interesting
Oil Falls Below $120 on Demand Concerns
Oil prices fell nearly $2 a barrel Tuesday on expectations the economic downturn in the U.S. will erode consumer demand for crude products
The market is ignoring this bullish news …
Oil majors face wider security risks in Nigeria
Nigerian rebels siphoning valuable crude oil in Nigeria have been on the scene for years, but the oil and gas majors are eyeing a new threat with the first significant attacks on an offshore oil platform.
But I think that shows the phase of the market we’re in. When traders want to sell, they’ll ignore bullish news and focus on bearish news.
When those all around you are losing their heads, it’s important to focus on the fact that we’ll have some great buying opportunities once this correction has run its course.
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