"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput

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Wednesday, March 16, 2011

Commodity Complex back in Favor Today

Money flows have returned to the Commodity Complex today which is a bit unusual considering that the stock market cannot seem to move all that much higher. It is not as though risk is back in therefore and risk aversion has gone away for the day. Just look at the bond market which still is moving higher and the Dollar which has gotten the usual little blip related to safe haven plays.

Perhaps traders felt as if the selling in the commodity sector was overdone. Either way it is allowing silver to move up more than 2% at this time and gold to return above $1400.

Crude oil is higher also due to events in Bahrain with traders focusing on potential supply disruptions today and not demand destruction as they have been doing in recent days.

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