Freeport McMoran (FCX) remains inside of a multi-year falling channel. After hitting falling resistance of last FCX is breaking support at (1) below. This usually isn’t a good sign for the Doc Copper of copper mining stocks as 77% of investors are bullish the stock at this time. FCX is the 4...

On a day the the job report was much lower than expected and has caused a few to ponder if the economy is slowing down or if growth will remain strong. The CRB index has formed a multi-year pennant pattern which is about to end.   CLICK ON CHART TO ENLARGE The trillion dollar question remains, wil...

The US is producing much more energy domestically the last decade in all forms from natural gas to crude oil with a myriad of boutique products along the way, and so it is natural for producers to want to maximize profits by expanding their marketplace. Free Markets haven`t been Free for a long ...

You may remember that in late 2012, corn was trading near record highs. Mainstream experts said the rally would keep going. Instead, corn went into a precipitous decline to 33-month lows. Coffee prices have taken a similar path this year. Since January, coffee has been in a free fall to the lowest ...

We have seen how Gold and Silver were viciously attacked by the shorts this past week, and surprisingly Oil escaped the carnage which is interesting because in April Oil was taken down to the $86 level during the last attack on the Gold and Silver markets.  This is even stranger considering the fu...

The Fed is pumping billions into the economy every month, hoping to inflate it.  From a stock market perspective, many key index’s are at all-time high levels. Is the Fed succeeding to inflate stocks?  Many would say yes. CLICK ON CHART TO ENLARGE   From a broad based Commodity perspec...

Australia fundamentals deteriorate rapidly as evidenced by a collapse in the PMI Manufacturing Index in April.  Key Findings Manufacturing activity contracted significantly in April as conditions weakened amid a strong Australian dollar, intense import competition, high energy costs and weak lo...

As I noted in a post a number of weeks ago, declining commodity prices usually indicate demand for goods is dropping and the economy is in trouble. There has been only further deterioration in commodity prices in the weeks since. I won’t mention 2008 when everything collapsed. But in the summer o...

As a six-year chart of the CRB Index of Commodity Prices shows, declining commodity prices usually indicate demand for goods is dropping and the economy is in trouble. We won’t talk about the bottom falling out of commodity prices and everything else in the financial meltdown of 2008. But the CRB...

It’s time for an update on commodity prices. As I have written before, consumers understandably like to see prices for commodities decline, the more the merrier, particularly gasoline and energy costs. Many fundamental analysts also take commodity price declines as a positive for the economy, on t...

The lumber market has really come off the 2009 bottom of $140 per mbf and closed Friday at $399.80 per mbf on the back of good news out of the housing sector of the economy. The housing sector of the economy led the way in 2012 with record low interest rates, and investors and banks working throug...

The Cotton market was a pretty calm market until the last four months of 2010 through the first four months of 2011 when it awoke from its giant slumber to more than double its historical trading range. Cotton #2 for May 2013 which trades through the CME Globex & ClearPort venues has recently sh...

Last May as the market topped out in its 10% decline to the June low, my weekly column pointed out how commodity prices tend to be quite accurate predictors not only of stock market direction, but to an uncanny degree the severity of market corrections. Plunging Commodity Prices Are Ominous For Sto...

After spiking up in 2009 and 2010, commodities have been in a bear market since early last year, the CRB Commodity Index plunging 27% to its low earlier this year. Attempts to rally were halted by the resistance at its 30-week m.a. However, the rally off that low has been promising, breaking out a...

A tax lawyer I know sent me a link to an article about a tax ruling. I’m thinking “Boring”, who cares about that? Then I read the article. A few lines jumped out:   Commodity prices could come under severe pressure if the U.S. Internal Revenue Service (IRS) decides to revoke previous ru...

For the past two years, as regular readers know, I have been bearish on hard commodities. Prices may have dropped substantially from their peaks during this time, but I don’t think the bear market is over. I think we still have a very long way to go. There are four reasons why I expect prices ...