MOS @39 down from 165...mee 27 was 95...fcx 45 was 122... this is really stunning ..i guess it is hedge fund liquidation... these arent junk companies but getting killed because of the commodity chop... Anybody check CAT recently...victim of commercial paper issues...pretty ugly...
All the premium is out of these babies, now is the time to build a long term position if you believe the inflation from the fed this year will kick in a couple years down the road.
Exactly. The volume must be from liquidations and redemptions. Don't expect inflation to kick in and save the commodities anytime soon tho.