I know everyone is getting Jim Rogers’ style erections these days, with male genitalia shaped as bow ties materializing at the first sound of the word “commodities,” but the short-terrm outlook is not so stimulating. Instead, while I believe that the longer-term bull thesis remains firmly intact, the weekly charts for the ETFs of both cotton and a basket of agricultural commodities, seen below, indicate that the buyers have likely exhausted themselves for the next few weeks.
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would love to hear what you think about the metals too.
“I know everyone is getting Jim Rogers’ style erections these days”
OMFG! Quote of the year!
Thanks so much Chess.
Thanks. I agree with GYSC. Definitely the quote of the year.
Rogers interview on CNBC Europe this week was priceless, just sneering at them. OTOH he reveals little to nothing about his positions or strategies so it wouldn’t surprise me at all to see someone like him going short at times and jamming commodities down so he can then buy ’em back lower. Oldest game in town.