The bloodwood and the desert oak
Holden wrecks and boiling diesels
Steam in forty five degrees
--Midnight Oil
Sold a decent chunk of crude exposure into this morning's spike higher.
Could oil still move higher from here? If unrest continues to heat up in the Middle East, the answer is most definitely yes.
If so, I have some 'secondary' exposure in the form of DBE and RJI that I plan to hold w/ a longer horizon.
Meanwhile, seemed prudent to take some gains after a gappy 10% move in crude.
position in DBE, RJI
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The most likely outcome is that the recent rise in commodity prices will lead to, at most, a temporary and relatively modest increase in U.S. consumer price inflation.
~Ben Bernanke
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