Wednesday, March 19, 2008

Commodities Comeuppance. And Climateer's "Quote of the Day" (MON; MOS; POT; AG)

Our best guess is up tomorrow, you know, Thursdays child has far to go and all that.

U.S. stocks sold off steeply in the afternoon Wednesday after hesitant trading close to the baseline. The Dow and the S&P 500 each lost 2.4%, and the Nasdaq dropped 2.6%. On CNBC's "Fast Money" TV show, Tim Seymour said there's a rollover out of commodity names. He noted that the yen moved 80 basis points today. The commodities trade is a crowded trade, he said. He was bullish on some Eastern European gas names, but said he believed there was a lot of "fluff" in plays on Potash...
...Pete Najarian said that the market is prone to overreactions and was irrational lately.

[video] Cramer: The One Momentum Sector to Make Money