Friday, April 17, 2009

The MOOve Toward Commodity Stocks (MOO)

Ascending wedge or wedgie? The ETF was recently at $30.80 down fifteen cents. I may be late to this party, I haven't thought about MOO in a year.
From Hard Assets Investor:
There's been tension building between commodity investors for some time now. One camp figures the futures market is the best place to trade, while the other advocates commodity stocks.

The equity players' position has been bolstered by recent buoyancy in stock prices as commodities have slowly simmered. The boiling point may well be nigh, though.

Wednesday, the Market Vectors Agribusiness ETF (NYSE Arca: MOO), an exchange-traded portfolio tracking the 44-member DAXglobal Agribusiness Index, scored its highest close since the retracement of last year's commodity tumble began. Ending the day at $30.73, the Market Vectors ETF punched through a critical resistance level that could lead to a run-up to the $40 level.....MORE

Market Vectors Agribusiness ETF (MOO)

Market Vectors Agribusiness ETF (MOO)