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Commodity Trading Discussion Forum

Re: Something Fishy Going on/Lee

Posted By: Trades
Date: Thursday, 2 July 2009, at 8:31 p.m.

In Response To: Re: Something Fishy Going on/Lee/Trades (Lee)

Well I'm no expert in much but from what I understand further out months are traditionally more expensive due to storage fees etc. That is called contango. But when there is a huge demand NOW for a commodity type of mentality you see what's called backwardation meaning the front months are more expensive than the future back months. Those are the commodities that go crazy to the upside. So the story goes anyway. As far as housing goes I have been very tempted to sell my place on the B.C. West Coast. Prices have softened up a little but sales are still ok. I could have a nice bundle of cash in the bank and retire nicely and stop working all together. Tempting but been procrastinating for a couple of years now and been expecting this housing slow down. I expect things to get much worse and continue for a decade or more into bone ugly. One just has to decide where they want to live as that's always the problem. Not sure if I want to rent an apartment with my nose pressed against the window all day or not. I wouldn't buy anything now at any price. Housing prices usually go up for about 8 years and then comes down for 5 years. Nice Fib numbers,lol. That's in normal financial times. This isn't normal it's the once in a century economic crisis cycle. Canadian housing hasn't been hit too hard other than very hot areas have come down about 15% especially with overbuilt condos in major areas. Decisions,decisions......and the clock is ticking...

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