Wednesday, May 19, 2010

Commodities Ouchies!

Although off the air now, a kids' show that was on a lot in our house was called Action League Now! (Nickelodeon). One character called "The Flesh" ("He's super strong and super naked!" — A blond, muscular, dim-witted bodybuilder who never wears clothes).

If you are still with me, his catch phrases included "ouchies," for when he got hurt. That is just what I have been thinking when it comes to commodities today. Ouchies! Everything except gold is heading lower and that is now how a recovering economy should act.

This is the old version of the CRB index, now called the CCI (continuous commodities index). I refuse to give it all of its corporate names (Thomson Reuters Jefferies and whoever next buys it).

Anyway, the old version previously owned by my former employer Knight-Ridder, measures lots of commodities and is not overly weighted on energy like versions that came out late in the 1990s. It worked pretty well to give us market clues. And right now, it has a nice little technical breakdown working. Take out gold and, well, you know.

If you don't look at our chart of the day on the home page, give it a look today.

The only "V" we will see is the cheesy sci-fi remake now on the tube.

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