OptionEye March 15th
Open Interest in Corn off 1k in total yesterday. Funds were net sellers of 8k. Now long 172k.
Again, very lackluster trade as market seems very sanguine.
I am getting evermore frustrated with the economic picture as I am not aware of anyone that I know that is better off today than they were 2 years ago. The Citibank Economic Surprise Index continues to tell me that the world is not as sweet as it seems on the television and our economic indicators continue to disappoint.
Remember, we have never come out of a recession without housing and jobs leading the way. The housing picture is as bleak as ever and the jobs numbers aren't much better.
$800 billion later and all we have is a better stock market. When the music (stimulus) stops, we will have some serious reckoning to do.