Commodities Bust - Major Falls Overnight

Major falls in Commodities overnight Lead to Minor Correction: Overnight in US trade (- yes I just woke up!) the commodities took quite a hit. Aussie dollar is well down and analysts expect the market to open a lot lower than yesterday. Looks like a correction... The analyst being interviewed on the radio said that underlying supply and demand fundamentals for the commodities are still good - China still needs the metals. Anyway, enjoy the new trading opportunities - and for those who had open positions, I hope you had your stop losses! Recently we had a post entitled "All so Bullish on BHP Billiton". This simply underlines the fact that you should not take these broker recommendations to heart if you are only looking at short term gains. Their price recommendations have a longer time frame and is still open to other risks, for metals companies they are exposed to metal price risks, such as those we saw last night.