Commodities

Commodities such as crude, wheat, and soybeans have entered the idiot rally phase where the lack of selling provides the bull with that bullet proof feeling. These prices are reflective of the overall environment perpetuated by the Fed for years. Money is free and tales of tight supplies have captured the attention of the limited trading abilities of hedge fund managers. This of course will all end badly for the longs, even the crude freaks who may have had the best of the price runs. Why? They will tack on a reason on the way down which will be of no analytical value to the bulls. Anything that comes out of the ground can be sold with certainty and this time is no different.