Everything commodity related is being completely thrown out today, although, there is a bit of bottom fishing right now.
Crude Oil falls $3.97 to 116.21
Natural Gas falls $0.21 to $8.35
Gold, copper, silver, corn, and soy beans are also down.
The Oil & Gas UltraShort (DUG) continues to plow higher to 39.40
Here is a list of of commodity related stocks that I follow and their LOD prices
Potash (POT) hit a LOD of 169.00
Monsanto (MON) : $103.50
U.S. Steel (X): $135.23
Cleveland Cliffs (CLF): $85.33
AK Steel (AKS): $50.41
Freeport-McMoran (FCX): $82.01
Companhia Vale (RIO): $25.44
Transocean (RIG): $126.57
Interestingly, AGCO (AG) is up today even though agricultural and steel names are down. The market is telling me that grain prices are still high enough for demand to continue while the drop in steel can help accelerate, or at least maintain, the margin expansion story.
The margin expansion play may be the story behind the rally in Caterpillar (CAT) and Terex (TEX)
Also, Boeing (BA) continues to show strength after the Quarter. BA is up to $66.29- 2.29% today
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