Almost as if Goldman Sachs controls the price of copper, the red metal has begun rallying strongly days ahead of when the firm said it would.  [Jun 15, 2011: Goldman Calls for Substantial Rally in Copper Prices in 2nd Half of 2011, as Chinese Stockpiles Have Fallen Nearly 50%)]  Yesterday's industrial figures out of Japan, along with a return to the beat down of the U.S. dollar as the euro jumped on bailout infinity lit a fire under most commodities.

Oil is already back to prices before the SPR release...

EDIT 9:50 AM - S&P 500 is spiking to 1317, recall that is where both the 50 and 100 day simple moving averages converge.  After such a huge move this week (+3.9%) you would think that would act as resistance for now.

No position