NASDAQ slide last week ‘a caution’ recent melt-up in equities may have run-its-course. Impact: King oil / diesel fuel / bio-diesel : ethanol prices could slip off recent gains. FURTHER RATE HIKES UNLIKELY. Cash cattle prices peaked early summer, now vulnerable to a 10 to 20% pullback into fall. Cattle hedgers: Start your engines. Puts and/or put option bear spreads live and feeder cattle. Corn / soy complex not thrown-a-bone given neutral USDA data. Stayed tuned to Errol’s Commodity Wire.
S&P has plunged $850 billion in market cap over the past ten (10) days. The JP Morgan jinx stating no chance of a recession?