Sunday, August 2, 2009

Commodity Roundup for July 31, 2009

Friday the US Dollar Index began collapsing as soon as the market opened. The dollar ended up getting crushed by the end of the trading session and closing below its double bottom.

Commodity stocks caught bids as the USO and GLD made impressive moves to the upside. The broader equity markets did not bid, which shows a possible divergence occurring on the weak dollar trade.

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