Red-Hot Resources

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

Thursday, March 20, 2008

One More Chart

Can't ... stop ... working ...(har-har).

Anyway, the hand-wringing has started on commodities. "The sky is falling, the sky is falling!"

Don't believe it. These are the same guys who told you to buy Bear Stearns last week.

Anyway, here's a chart ...
This weekly chart of the CCI, an equally weighted index of commodities. You can see that despite the big pullback, the CCI hasn’t even tested its recent weekly uptrend.

And if it breaks below that, it is still supported by its big uptrend.

Check out my new gold and energy blog at