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Monday, May 9, 2011

Gold Silver and Oil Basing? 5/9/2011

Gold Silver and Oil Basing? Andy Busch, BMO Capital Markets and the Fast Money traders weigh in on which trades you should put down today.

stocks at the highs of the day as commodities lead the way. oil and silver rebounding. oil passing that $100 level in the middle of the day. pete, are you a buyer? i think we were all looking for some sort of a base after that huge dramatic pullback last week. we talked about that -- some of that double short in silver. when you look at some of these, you start to finally see some folks who said, enough is enough, maybe we've reached the lower ends and we're going to pause on the downside. the margins, liquidation, putting the pressure on the commodities. we have to see the rest of the week.

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