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Tuesday, March 07, 2006

Top in Commodities

Roger over at Random Roger's Big Picture has a nice article about a potential top in commodities and emerging market stocks. I personally tried to go long Southern Copper but was luckily stopped out. I still have significant exposure with Bema Gold (BGO), Tesoro Petroleum (TSO), and Chesapeake Energy (CHK).

1 Comments:

Blogger pigpen01 said...

I have been wondering about a tops in the commodities market as well. I am long several metal companies including TIE, ATI, PCU, and also CRDN. I was slaughtered the first part of the week, but for the most part they bounced back nicely the last two days. TIE and ATI didn't even break their 30DMA (at close). I noticed that most of the recent weakness in basic metals did NOT come with high volume. I am lead to believe this was just profit taking. However, this metals bull market is getting old, and I am thinking I will get out of it in the next several months. When it dies, it won't be pretty.

Ben

3/10/2006 4:32 PM  

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