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Thursday, October 2, 2008

Commodites: Hedgies Puke, Almost Done



On Monday September 29th in Baltic Dry, Commodities, Bubbles I re-iterated: I’m Still Short Commodities as the Hedgies Puke.

Today I’ve reduced that position, leaving me with my last 25% of SMN, DUG, HXD.TO, HED.TO, HOD.TO.

I think the hedgies are almost done puking, take a look at AGU, MON, MOS and POT. I may pick up some of these names for a bounce trade... after Non-farm payrolls and just after the House votes "YES" on the damn bailout.

5 comments:

Anonymous said...

GDX got crushed today, too. I only got the first half of it, though. I'm such a terrible trader . . .

-Mike J

Brian said...

Great post, love the chart comments!

You're really on fire lately FN, both in terms of trades and post-quality (which have always been high, but are terrific lately).

Cheers!

Doug said...

I expect commodities to spike when the bailout passes due to the dollar.

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