Wednesday, November 12, 2008

Chart of the day is............

...LME copper futures, still in contango.

Copper is just the example, as everywhere you look contango (which is jargon the financial world uses that simply means "you gotta pay more later than now") rules the scene. Base metals, soft commodities, crude oil etc.

Why are virtually all commodities contangoed right now? I suggest you sit down, take five minutes out of your day and have a good, hard think about it.