CRB index: almost too perfect

The CRB index tentatively turned down where it should have

I am short commodities (DBC) as my only current short position. Hence, I have an interest in this oh so logical pullback from the 200 day moving average. It’s why I was irked when OPEC manip’d the oil market recently. Oil being a CRB driver and all.

I am currently sporting a manageable paper loss but I have a level of conviction on this short and even added more during the bounce. It almost looks too logical for CRB to turn down as it did beginning on Monday. But 2022 has featured a lot of logical bear moves playing out as they ‘should’ have from logical technical points.

Wonder if CPI will have a say in this, either positively or negatively.

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This Post Has 2 Comments

    1. Gary

      Well silly me, I guess. :-)

      I am not at all ruling out resumption of the inflation trades. But I think it’s going to get painful in the interim. Could well be a big time buying opportunity, particularly in energy (and related, like Uranium, battery metals, etc.).

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