Red-Hot Resources

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

Wednesday, April 16, 2008

Profit Taking in Commodities

No sooner do I fire off a Red-Hot Commodity ETFs issue talking about how commodities are soaring than the darned market turns around as jittery traders book gains.

Damn it! I hate it when my issues are out-of-date after five minutes! Well, at least gold is holding up well. And that, I think, is one piece of evidence that what we're seeing is just profit-taking in energy and grains.

UPDATE: Now commodities have reversed AGAIN and are higher! Holy smokes!


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