Wednesday, March 19, 2008

Commodities - It Was Bloody Out There

I was just re-reading an old post I wrote about the day Wheat soared 25% in one day. I said in the post that with moves like that that there had to be some real damage to a hedge fund or trader or some entity. Well with the tremendous down moves today in ALL of the commodities I think it may be safe to say that there is someone on the wrong sides of these commodity moves today. The 60 point move in the Gold futures contract was enough to create large scale pain. But with the carnage across the entire spectrum there are likely many players hurting. The forces of these moves are amazing. Silver, Oil, Gold the list goes on. Just huge moves. I don't wish carnage out there on anyone as I have been on the wrong side of many a trade. I am just making an observation. It is just from my experience that says that with huge down moves like today's some person, trader or entity is likely in very large financial pain tonight.

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