Commodities Stocks Decimated. What would you expect with oil currently below $115 per Barrel and Gold Dipping Below $830 per ounce? The Technology sector seems to be taking the money that was previously in the Oil, Nat Gas, Agriculture, Coal and Metal Names. The Airline Stocks are loving the decline in oil prices and as a "Trading Vehicle" have worked out exceptionally well. With the Fear of a Global Recession the The US Ten Year note yield pushed over 4% today.
The companies that need to purchase these raw materials should benefit from the lower costs. Think Airlines, Retailers, Transports, Industrial, ect. The Financial Stocks have held up relatively well but still have yet to break out and show significant leadership. Since they are no longer moving down the broad market indexes have the chance to advance. The money is moving fast and furiously from the winners to the Losers. Happy Trading.
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