This Crazy “Cheap Oil” Trade Shines While Crude’s Comeback Fizzles

by Greg Guenthner
Daily Reckoning

Don’t call it a comeback just yet…

Crude rolled over as soon as the stock market opened for business yesterday. It plummeted nearly 4% by midday.

Base metals also took a beating. Copper dropped nearly 3%– while mining stocks coughed up all their recent gains.

See a pattern emerging?

The market’s big winners from the past couple weeks are getting hit with some serious profit taking. Traders are getting out while the getting’s good.

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