Don’t look now, but commodities are shooting higher across the board again. The CRB index is higher by 2% today and the raw commodity index inside of Exodus is at 6 mo highs.
We’ve been seeing a hellacious rally in everything D. Gartman used to like since the Feb bottom. The buy of a lifetime was there to be had. Unfortunately, hindsight is 20/20.
The year to date leaders includes coal +38%, silver +22%, gold +18%, lithium +17%, uranium +13% and soybeans up 11%. Not to mention, there has been one heck of a run underway in oil, steel and even wheat, which is higher by 5% over the past week.
Do I believe in this commodity super cycle? Fuck no. It will drown and then die in a watery grave. Nonetheless, this is what the people want. Commodity related stocks are higher by 3.5% today, as the apes in top hats run around throwing shit at one another, pretending to be gentlemen, hedging against an inflation monster that does not exist.
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How did I know 2100spy would be the close
And the real quick obviously-purposed push
in the last 60 seconds couldnt be more-obvious
If you don’t think there’s a programming cabal
running your markets in these multiweek
*8week ***10week ******12week obviously-
intraday-controlled up stages layoffthemacncheese
Highly immensely controlled United States stock
market where [ lol ] they are only pushing up P/Es
[ lol ] It’s not the inherent strength of economy,
earnings, growth. Just forced higher indexes that’s all
(i guessed after the push at 3:05 2100 even was the target)
*sarcasm
And sadly for me, bankrupted companies do not magically unbankrupt themselves.
Grandmother Yellen will awaken and crush your zombie commodity companies with her Hawkishness and strong USD balderdash
Gartman will die. Who knows when, but for now, all he’s told us is that oil will most certainly not be between 32 and 42. Long oil vol.
The dollar index (ICE futures) is on the verge of making a new 1-year low -> commodites up