Minyanville contributor Quint Tatro dares to share the kind of keen insight and actionable information you won't find in any prospectus. For more original thought, visit www.minyanville.com.
When I look at commodity names in particular, the damage that has been done is breathtaking. It seemed like just weeks ago Freeport (NYSE: FCX) was trading in the triple digits while Schlumberger (NYSE: SLB) flirted with $90 or so. Wait a second, it WAS just a few weeks ago. Geesh.
I am of the camp that starting to nibble into the fear that exists is prudent if and only if you have already protected capital along the way, and fully realize you can emerge with a few nicks.
My ETF of choice is the ProShares Ultra O&G (AMEX: DIG) which like so many other averages yesterday, held its most recent uptrend line but has yet to put in a higher high. The risk-reward with a stop below the October 10 lows seems appropriate to me, so I have taken a stab. I will slowly wade in and sell into strength should it eventually come.
Comfort Zone Investing: The unmighty dollar
Five winners of a weak dollar
For a quick-read on the U.S. economy, check the price of gasoline
