Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Thursday, March 20, 2008

News to Make the Bears Smile

Dollar Advances Against Commodity Currencies as Oil, Gold Extend Declines The dollar rose against the currencies of commodity-producing nations from Australia to South Africa amid speculation a global economic slowdown will reduce demand for raw materials.

Gold, Oil Will Extend Declines on `Risk Reduction,' Deutsche Bank Says Gold and oil will extend declines into April as investors are likely to continue selling commodities as a part of ``risk reduction,'' said Michael Lewis, Deutsche Bank AG's head of commodities research.

Copper Leads Decline in Industrial Metals as Commodities Slump on Dollar Copper fell for a second day on the London Metal Exchange, extending a decline to the lowest in more than a month on speculation the dollar's slump is near an end.

Denison Mines Falls After Cutting Output Forecast on Delays Starting Mill Denison Mines Corp., owner of the McLean Lake uranium mine in Canada, had the biggest decline in almost two months after cutting its production forecasts because of delays in starting up a mill in Utah.

XX My take -- nothing goes up or down in a straight line. A pullback in commodities is not that unexpected, and will give us some great entry opportunities.
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