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The huge move in oil futures downward by about $10/barrel over the last two days is the perfect scenario for this market to move up in relief. The Ag stocks, even though they are commodity stocks, should be leaders in that move upward. I note grains are down today. Still that temporary price lull by grains should not block a move upward by market leaders in a market all of the Ag CEO's seem to think will remain hot for the foreseeable future. Also Q3 and Q4 are generally the excellent quarters for Ag stocks. The Ag CEO's were positively giddy about their performance prospects. It doesn't look like there is any hidden bad news in this sector.
Jul 08 12:40 pm
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