Commodities long term Top ?

In recent years most commodities had a huge run up. The Reuters CRB Continuous Commodity Index climbed more then 200%. By definition as a bull market is maturing there is less and less upward potential. I am sure there are many good reasons for commodities prices to be where they are and the outlook might seems even better but that is usually the case at cyclical top of any bull market.

Bull markets often end in a spectacular rally one in which big profits are made quickly. Have we just seen that?, Is the commodities long term top is in place ?

That's is not my point but the odds for multi month/year correction are certainly increasing.


The CCI index had surely proved itself to be the one index to follow this asset class.

Palladium

Not all commodities are at new all time highs.

Palladium for example is about 60% below its 2001 highs. This volatile metal was trading anywhere between ~1100$ and less then 100$ over the last 30 years.

There are several ways to invest, trade and speculate in palladium:

1) Physical palladium: Palladium ETF (LSE: PHPD) and palladium maple coins.

2) Palladium derivatives: Futures (Nymex: PA)

3) Palladium mining stocks: SWC, PAL.

Commodities exchange to be established in St. Petersburg

Deputy Economic and Trade minister Kirill Androsov said that the international commodities exchange in St. Petersburg will be registered in September or October 2007.

Speaking to journalists in Moscow, Androsov said the exchange would have an initial capital of $US 50 MLN and it would specialise in commodities such as aluminium, timber and metals, and particularly a new Russian export blend crude oil REBCO and oil products.

Leading Russian companies have been invited to participate, with a limit of 10% ownership for founding members.

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