Commodities taking some hits as tactical attitudes shift on future price outlooks. Grains have had a great run but a growing unease about the ability of crops such as corn to maintain high prices as acres worldwide are expanding and the ethanol scam is running into some headwinds in states such as Texas that are seeking a waiver from EPA on blending. There is no question at some point the ethanol alternative energy plan will be virtually eliminated.
DJI, SP500 and to a lesser degree the NQ100 are continuing their run from the bottom. This combination of short covering and pricing reported in previous posts can lead to powerful rallies. Traders and investors should not forget however these rallies will crescendo at some point nearby and have a repudiation break with some force. Stories of the financially living dead will be resurfaced and the bull/bear battle will engage over a larger terrain.
