Commodites sliding
Funny day. Commodities are melting down all of a sudden. Oil was above $83 earlier in the day; now were down a buck, down to $81.15. Gold is down at $1100 support again…
No clue what to blame it all on, though it does suggest risk aversion.

AUTOREFRESH 













Jamie,
Did you forget Geithner is speaking? at 12.00 US central time
)
Jamie, QUESTION….last night Iron Ore Spot in China went up about 2% and the day shipping rates popped….Could the belief of the USD topping caused all that and if that 21/10 cross not play out we would expect that quick of a pull back?? My Real Question is…the commodity dealers in China, do they really move that fast and are they watching FX that close? I know, stupid question but I have to ask.
I can say with the utmost certainty that I have no idea what Chinese commodities traders look at…
Thanks Jamie….I really am amazed how fast the “demand” swung overnight even with soft future markets and China being down…