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Commodities are lit up bright red as weak economic data (here and in China) is a good excuse to...

Commodities are lit up bright red as weak economic data (here and in China) is a good excuse to end the bounce of the last few sessions. Gold (GLD -1.8%), Silver (SLV -3.6%), WTI Crude (USO -2.6%). Copper (JJC -3.3%) moves to its lowest level in about 18 months at $3.08/lb. The metal hasn't had a 2-handle since the start of 2011. Broad commodity gauge (DBC -1.8%).
Comments (5)
  • Doug Eberhardt
    , contributor
    Comments (2730) | Send Message
     
    Did someone say dead cat? http://bit.ly/ZTixuq
    1 May 2013, 11:20 AM Reply Like
  • mstrong1
    , contributor
    Comments (82) | Send Message
     
    No Margin = No Problem
    1 May 2013, 11:39 AM Reply Like
  • Zenith Strategies
    , contributor
    Comments (442) | Send Message
     
    We believe that the commodity complex generally is trying to tell us something. We wrote about it on April 5th as the latest warning. There are still major gluts in this area.
    1 May 2013, 12:06 PM Reply Like
  • Doug Eberhardt
    , contributor
    Comments (2730) | Send Message
     
    Zenith, you have a link? Thx.
    1 May 2013, 12:19 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Tumble on. The commodity complex is wide and broad though - softs, ags and livestock do not follow the current trends of metals and energy, and within the latter complex nat gas is holding up well here with a bullish trend. The equity markets are overbought (as are Treasuries - but they could continue to test last year's highs). I went short the equity futures last night. We'll see how long this lasts.
    1 May 2013, 01:16 PM Reply Like
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