Bespoke's Commodity Snapshot (10/23/08)

Commodities have embarked on another leg down, falling off the proverbial cliff as many would call it.  Even gold, which has historically been thought of as one of the only safe havens during times of economic uncertainty, is trading into oversold territory with no end to its downtrend in sight.  The "Great Unwind" continues...

click to enlarge

Comments

[Urbane Gori...:]

Thanks for the charts.... Think I'll chug my Valium with a glass of orange juice... That's the only commodity off the bottom... jegan ;-)

2008 Oct 23 05:26 PM

[JeffreyNV:]

Time for a bit of ETF dollar cost averaging while we're "weighting" for the bottom, particularly in the Ag and Energy sectors. It might be a stretch for some here, but the Ag ETF play looks like the place to overweight. Cheers!

2008 Oct 23 10:30 PM

[California Dan:]

Please change your scaling. The graphs of very volatile and only slightly volatile commodities look the same. Please use zero x-axis or graph it as a percentage change. Otherwise, the 10% fall off in coffee looks as bad as the 60% fall off in copper.

2008 Oct 24 05:46 PM

[zawy:]

I agree with Ca Dan. So many sources use such crummy scaling of the data that graphs are usually useless without careful mental calculations. Fast Money for example is the worst.

2008 Oct 28 11:07 AM