Wednesday, March 19, 2008
Twitchy traders may now be handing commodity investors a gift. Since last August, the venerable CRB Commodites Index has bounced sharply whenever it has come close to its 50-day moving average - based on the chart below, that could happen today or tomorrow.Why would this time be any different?
Aside from, perhaps, a general realization that prices have come very far, very fast, what has really changed in the last couple of days in the world of hard assets?
Did I miss the news that we are now "out of the woods" with that whole pesky "credit crisis" that began last summer?
Did my wife and I miss the housing market bottom?