Wading through cow patties…

Posted on Jun 19, 2009 by in Letters

Traders will turn white around the gills, but we are still long MOO and DBA because we are in it for the long term.  For trading purposes the island reversal in DBA was a perfect exit or reversal signal, but traders now have to figure out where to get back in.  We wouldn't be adding at this point.  We would want to see some strength first.  Our stop would be about 5% farther down.  The Basing Point is about 26 on the DBA.  We will probably see long term trading markets in stocks so commodities is where the action will be.  This particular downwave is necessary to flush out holders who don't deserve to profit and are not sufficiently virtuous.  People the Ayatollah would disapprove of.

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