05-01-2013 10:36 AM
Regardless of how ominous the weather forecasts were or how oversold or undervalued grains were, the last few days also had the disinct feel of da boyz merely propping their wounded commodity portfolios up for month end.
Perhaps a few even got lucky and managed to offload their positions on some widows and orphans during the across the board pop, but probably not near enough room for everybody to get through the door.
If gold, silver, crude are any indication, they couldn't even keep it up on the first day of the month although bonuses were protected a bit for month end bookout and they'll think of something before the end of this month, probably.
I had to laugh a little bit about all the brouhaha of folks who were screaming about manipulation in the metals market- apparently, shocked, absolutely shocked I tell you that markets are manipulated at times.
Like the sign over my computer says, "don't be a muppet."
Could be that the Fed will give the bulls some ammo this afternoon but I don't expect anything more than some tweak inlanguage if that. Then the "bad is good and worse is better" theme will get kind of stale for a while.