Crude - Many saying how wonderful that crude has "stabilized" today. This is stability? Here's today minute chart of WTI:
That rally all the way to $54.72 and then a failure of any more buying interesting looks atoricious on the chart. Crude looks set on testing the lower Bollinger Bands, and really seems to be taking aim at $50. There's word out in the tanker shipping world that OPEC exports are likely to rise 1.4% in January. I re-shorted at $53.10. There has got to be major pain by funds highly leveraged in energy stocks and or futures by this slide.
Nickel - This is a metal which I am going to talk more about here on the blog. Yes, it goes for over $30,000 a ton, but why not? I have traded it more because the underlying trend remains directional: namely bullish. Big fund rebalancings have been going on but are almost complete. More later.