This set of comments will be brief as I am extremely busy today.
Friday's jobs numbers sent the Dollar soaring and the commodity complex reeling. Today, that trade is being reversed with the Dollar sinking sharply lower and the entirety of the commodity complex is now soaring.
If you ask me the reason for this you will get a simple answer: "Beats the hell out me". I have no idea what is going or why but that does not matter as the funds are covering shorts or buying like mad in the commodity complex for today.
In looking over the Board, the only commodities I see in the red today are natural gas and feeder cattle. Everything else if going mad.
What we get tomorrow is anyone's guess but larger scale traders are more than likely looking to sell rallies.
Tuesdays are famously called "Turnaround Tuesdays" in this business. We'll see if it lives up to its reputation tomorrow.
One big short covering squeeze day does not reverse a trend.
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