The trend in the commodity stocks is still intact, but TBT holders might want to take some off the table as treasuries look like they've put in at least a short-term bottom.
Thursday, May 28, 2009
TBT holders don't be piggish
A month ago we wrote a post called "Commodity Rip" and discussed how commodity stocks were showing clear leadership. We highlighted XME at 34 (now 37 ), OIH at 94 (now 104 ), USO under 30 (now 35 ), and made a note on the weakness of treasuries with TLT at 97 (now 91 ). It's been one hell of a move.
The trend in the commodity stocks is still intact, but TBT holders might want to take some off the table as treasuries look like they've put in at least a short-term bottom.
The trend in the commodity stocks is still intact, but TBT holders might want to take some off the table as treasuries look like they've put in at least a short-term bottom.
