Commodities Broken

The action in energy on Thursday and Friday smelled fishy, what a tell it was. Gustav wasn’t “that” bad and Hannah has been downgraded to a tropical storm. I’m watching yesterday’s energy short list for opportunities. Coal steel and ag will get hammered as well, so watch XME and SMN which is the double short basic materials.

The financials and technology should benefit here as well, even retail (watch RTH). I’ll check in later.