Oil -6% Copper -4% Gas -7.5% Coffee -9.5% Cocoa -7.5% Sugar -11.2% Soy Oil Limit down Soybeans Limit down Corn Limit down What's going on? LMAO
I'm gritting my teeth to not just whack your mole ass, so I'll be a gentleman and kindly request that you post the YTD gains in those same commodities to put today into some perspective.
I don't have inflation or deflation trades on. I am not a global macro trader. I simply trade price action, not ET BS panic and economic conspiracy theories.
Commodities are heading for their biggest one-day decline since at least 1956. The Reuters/Jeffries CRB Index is down 4.9%.
As I've always said here I love the way so many in the markets call the long term trends by what happens on any given day. Commods down today, long term trend is over! Trend is now down for sure. Commods up tomorrrow - Long term trend is now up! And so on and so on. My advice, turn off your stupid quote machines and stop thinking every tick means something..............