Commodities sentiment near and far: It’s all good!

The mantra from most commodities guys is a simple: Be long or be wrong. This is a secular bull market in commodities. And up until that little upset recently, a 50% haircut triggered by the credit crunch, commodity bulls have been right on the money. The recent 50% retracement (or swift rally depending on one’s perspective) of the 50% decline makes the bulls rightfully proud. “There’s money in dem-darn hills boy! And this is only a mid-cycle correction.”