Monday, June 12, 2006

BOUNCING COMMODITY?


Is commodity correction over yet? Commodity stocks have certainly declined significantly, particularly the large caps. In the senior oil producers, PCA, CNQ, TLM, SU (the "Four Horses" in the Canadian energy sector) have all fallen sharply, in the metals, AL, and TEK.B. The market probably has a bit to go on the down side, but these stocks could have a short term bounce. I particularly like TEK.B here, despite the ugly chart pattern.

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