GKM

Thursday Outlook: Commodities, Emerging Markets

How pathetic. Morgan Stanley upgrades the financials to try to build a floor. When was the last time anything that came out of a bankers mouth was trustworthy? Someone help me out here please. MBIA and Ambac: "we're a-okay". Lehman: "we're raising capital because the market wants us to". What a joke.

MS must be worried about themselves and what might happen if things continue to deteriorate. To me they are running on the treadmill and its about to notch up to 10. Lehman's down 8% pre-market. How pathetic.

Commodity Analysts Believe the Party's Over

Commodity bull runs tend to blow off in a huge final run. I can't speak for much beyond oil, nat gas, and gold but if these are any indication of coming price action we haven't seen the top yet (although we may yet see more pullbacks to buy into).

I think the analyst consensus that a significant drop is expected is hugely bullish. Those guys have/influence the capital to throw at their guesses whereas we schmoes here don't really add up to much. As Dennis Gartman says "do the tough trade" and since everyone feels oil will fall due to recessionary expectations then oil will likely rise.