No Love for Commodities
There is very little to say about Monday's stock-market action, except that the indices did what they should have done -- which is to back off -- and as soon as the S&P 500 was down 9 points, the put-call ratio zoomed up above 100%. By day's end, the market had rallied, and the put-call was at a much more neutral reading in the 80% area.
With that out of the way, have you noticed the lack of love for commodities after a poor 2012? Of course, at midyear the major concern had been corn trading above $8 during the height of the drought. You might recall that, right as the grains were topping out in early August, the folks at CNBC finally got around to doing a special report on the drought....333 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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