Well, anyway you slice it this is a signal to sell short, or certainly to not be long. As you can see here the analysis we made in March has come true. Whether the head and shoulders top will fulfill all its implications is yet to be seen, but there is no doubt about what we are seeing. A landslide. Whether the start of an avalanche or not only Nils Bohr knows.

Soaring commodity prices? Yes. See DBA. Stay long.

Meanwhile the bouncing dollar. We will be buying the bottom of the range and also think that non-leveraged scale in positions can be tried in this range.