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.
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3 comments:

  1. AnonymousOctober 2, 2008 at 8:45 PM

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

    -Mike J

    ReplyDelete
  2. BrianOctober 3, 2008 at 2:09 AM

    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!

    ReplyDelete
  3. DougOctober 3, 2008 at 7:32 AM

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

    ReplyDelete