Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. 

So instead of just staring at Oil into another volatile options expiration (Friday was), let’s look at Commodities broadly:

  1. CRB Commodities Index corrected -0.9% last week but remains Bullish on both my TRADE and TREND durations
  2. Coffee inflated +5.2% last week to +12.8% in the last month and +26.8% in the last 3 months = Bullish TREND
  3. Oats inflated +6.3% last week to +20.5% in the last month and +57.9% in the last 3 months = Bullish TREND
  4. Lumber inflated +28.9% last week to +4.3% in the last month and +58.7% in the last 3 months = Bullish TREND

No, those +58-59% TRENDING Full Cycle Asset Price #inflations aren’t typos. But what if I shorted Lumber when it “broke” its 50-day Moving Monkey last month? Again, #patience with the process, Jedis…

CHART OF THE DAY: Oats & Coffee & Lumber, Oh My!  - loc1