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Friday
Feb262010

Bespoke's Commodity Snapshot; Year-to-Date Change

Below we highlight the year-to-date change for ten key commodities.  As shown, orange juice has gotten off to a nice start (+13.15%), while natural gas has once again resumed its seemingly perpetual decline (-13.75%).  Platinum is the second best performing commodity shown with a gain of 5.34%, followed by gold at +1.59%, and oil at +0.34%.  While gold and platinum are up in 2010, silver is down 2.69%.

Below we provide our trading range charts for the ten commodities highlighted above.  For each chart, the green area represents between 2 standard deviations above and below the commodity's 50-day moving average.  As shown, oil has been trading sideways between about $85 and $70 for a few months now, and it is currently closer to overbought levels than oversold levels.  Natural Gas is once again in extreme oversold territory, and the same goes for coffee.  After reaching oversold territory, gold, silver, copper, wheat, and corn have all seen nice bounces.  Platinum remains in a nice uptrend.  Along with the the recent outperformance of stocks like Ford (F), Sirius XM (SIRI), and Johnson Controls (JCI), is the solid performance of platinum (used in catalytic converters) another sign of an auto recovery?

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