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To: Cogito Ergo Sum who wrote (78963)	6/3/2009 12:26:44 PM
From: benwood	Read Replies (1) \| Respond to of 118717

yes... for a very little while.

To: Cogito Ergo Sum who wrote (78963)	6/3/2009 12:56:36 PM
From: Keith Feral	Read Replies (1) \| Respond to of 118717

News is actually shifting from less bad to real improvements. However, the big catch 22 is that real good news will jack up interest rates and the dollar, which could snuff out the commodity rally the past couple of weeks. I eagerly surrendered my RIG and FCX today for pretty nice gains. Oil seems way ahead of itself in this rally too, which could pull back to $65. So, I'll take a knee for now and look for some other opportunities. Going into the unemployment reports on Friday, it will be hard for oil to make any kind of a rally. Last year, July was the transition month from commodities to US dollars. Given the big plunge in the dollar the past couple of weeks, it's setting up for a bounce over the next week or two. $70 oil seems exceedingly generous to me at the moment.