Coal, steel, silver and gold are trading like we are entering a new commodity supercycle. Could it be? Things pretty much suck globally though. Remember though, that epic secular shifts start at extremes, so maybe this is it.
Bottoms are put in with gluts and oversupply and tops are put in when everything is dandy. Remember the peak oil schmucks? Most pump gas at Sunoco now. Pretty useless. But most analysts and economists are.
I love these names (for now) and I am long these sectors.
I’m always cautious, but Draghi is ready to go full bazooka at summer’s end if need be and Japan wants to go to negative 1.0% on rates as they NIRP the shit out of all things common sense. It all ends in tears, but the stage may be set for a goofy summer rally, we’ll see.
Over at the Upsidetrader OpCenter we continue to crush things.