Goldman’s Reversal on Commodities in 2009 Caps a Bipolar Year; Caterpillar Cut to Sell (CAT)
Goldman has gone from from permabull (remember the $200 oil “super-spike” call from May?) to permabear in less than one year’s time. Earlier this year the call was for an average spot price for crude between $110-$120 through 2011; today the 2009 average spot was pegged at $45. In conjunction, Goldman is slashing estimates for [...]
A Critical Day Approaches for Commodities; A Look at Wheat, Aluminum, Copper (AA, FCX, POT)
In addition to the disappointing close in the U.S. equity markets yesterday, there was also a renewed breakdown in the prices of many commodities. Due to their leverage as catalysts to Potash Corp (POT), Alcoa (AA), and Freeport-McMoRan (FCX), I’m focusing in on wheat, aluminum, and copper.
Wheat
After forming a solid bottom around the $500 [...]
A Glance at Commodities
I stumbled across a nice set of commodity charts over at Bespoke Investment Group…these guys consistently put out enviously useful charts, and this post includes 1 year charts for oil, natural gas, gold, silver, platinum, and a bunch of soft commodities like Corn and Wheat. The shaded “blobs” show a range of 2 std deviations [...]
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