In terms of participation, I’m not seeing any evidence of commercial money moving into this market.  In fact, to the contrary, when I analyze the participants in the market place and the value flow, it’s looking toppy.  But, what’s to say the money won’t be in position a month from now.

Moreover, just looking at a decennial cycle, I see November 19th makes for an interesting day for this market:

image

  • Share/Bookmark