The Reformed Broker, AKA Goldie Hawn here with today’s Market Recap…
When they write the book on May of 2009, they won’t be talking about General Motors’ (GM) long-overdue bankruptcy, they’ll be talking about the raging, historic rally in commodities.
Here’s a quick glimpse at this month’s Silver run (the biggest monthly percentage gain for the white metal in 22 years) via the June 2009 contract:
And we certainly can’t forget about Crude Oil’s explosive move, the largest gain in a month since he early-70’s:
This really was one hell of a month for the hard assets crowd. I talked about the silver market and ways to play it in a post earlier this month, but never believed it would move up this quickly.
Flattish day for stocks today, with the exception of commodities-linked names (which were the belles of the window-dressing ball today).
Above is a video from one of my new fave sites, OldJewsTellingJokes.com. Yeah, there’s a site for everything now.
Thanks for reading TRB this week, tune in tomorrow for Hot Links!