Are the commodities plays dead. I dont know but what I do know is that many of the hedge funds that are in trouble were in this crowded space. If I am correct on this and they are caught in losses commodities trades the space can definitely go lower. The trick is to find out which are of commodities the failing hedgies are heavily involved in.
Right now the following commodity related stocks look like they are on life support.
JRCC
X
APA
FCX.
I am not playing these as I am just barely trading as the market seems like it is waiting to tip it hands either way and I am waiting. I am a bear longer term but that doesn't mean we can't do higher short term. I think there is still a shot the bulls try for that 1325 area but for now we look weak, so who knows.
Stay small as I think we will soon get in gear and rack up some nice profits.
MARKETJEDI
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