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.
From TheStreet.com:

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