Commodity Stocks Crescendo Fall

This market is really pessimistic. The market was falling while oil was running up. We've had a pullback in oil for the last 2 days and in commodities overall for almost a week but we continue to make new lows.

China is don't and won't be until at least the Olympic games. After that, my thesis is, it all depends on increase in foreign investments.

I have been following these stock, like everyone else, looking for an entry.

I resisted calling a Buy on these stocks last Wednesday because the sell-off looked too strong (almost 20% on CLF) to signal a pullback.

Right now, these stocks are broken and they are being sold off with increasing intensity.

Just an update on what I've been looking at

APC: 81 to 64
SWN: 52 to 38
CHK: 74 to 59
DVN: 127 to 104

CLF: 122 to 86
X: 196 to 147
AKS: 73 to 48

MON: 145 to 112
MOS: 163 to 118
POT: 241 to 197