Things got a Little Overheated
We continue to look for 2011 to be primarily a sideways trading year. Although the commodity highs for the year got a little extended, the main point is, if you bought something to date in 2011, chances are the end of the year price will be a loss compared to your entry level. So far computer trends into today are still bullish on everything but Wheat, Soybeans, and two ETF’s, MOO and SMH. The other markets are set to follow very soon.
More importantly the conservative political push is set to push the economy over the edge and this will be very good for the bears. Also political reality is setting in and people are starting to get it. See item here: