Sunday, January 31, 2010

Commodity talk

We went through a lot of charts this weekend and saw a nice pattern in the commodity charts. We're not quite there yet but we have very nice support coming up in all the following charts:

Note how the 200 SMA/ base are coming together. All it would take is 1-2 days more sell-off and we'll hit these spots. Until then it's a bit of no-man's land and we're staying away. Horizontal line represents buy spot.

Gold started this -- watch for them to be the first to bottom.

Drillers, Ag-Chems, Steel, Coal, and Natural Gas producers