Loading ...samb – I think you may hit it out of the park and are right about the bottom being in. Hope you’re right. The boyz are working hard to convince us that everything pm will trade down with the SM. I don’t buy it. We’ll see what the Chinese have to say about pm’s next week.
SM is in serious trouble. Something wicked this way comes.
BTW – pm shares are making Norcini look like a fool.
COT Report – pretty neutral but doesn’t include Wednesdays action.
http://www.cftc.gov/dea/futures/deacmxlf.htm