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The Way It Is

Psychologically speaking, it is much easier to buy overpriced things that are still going up in price then buy underpriced things that are still going down in price.

That says it all.

I thought we would see a lower bottom on all commodities.

But the Global Elite turned the tide with the yuan and that was that.

However, demand remains a valid issue on virtually all commodity fronts.

Why?  Because this year's spike increased supply and the prospect of more supply.  This may be a good reason why things got turned around before the producers decided to hold back, which would cause more problems next year.

I called the bottom for virtually the day it hit.  I bought but didn't buy big.  And worse, when I had that proverbial gut feel that "Was I Right or Was I Wrong", I persuaded myself against accepting that I was wrong.

Darn human nature.

Now, step back and take a breath.  Where do we go from here?

Today's Jobless Claims number will be the setup for a small pullback off of this fund manager delirium and I forecast this to occur next week early.  Nothing big but buy.  Average in on the way up and make money.

The Hang Seng is up 2000 from its bottom, the DAX up nearly 800, etc etc.

Light Crude is mid 80's, maybe pullback to 80 and copper will not see anything south of 3.10.

So, keep the checkbook handy and be happy if you are long.