![Basic Material Depression](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2019/04/2019-04-12-FTSE-Basic-Materials-Index-10-Yr-RoC-Monthly.png?resize=150%2C150)
Basic Material Depression
Below I plot the 10-yr RoC in the FTSE Basic Materials Index (longer history than SPX Basic Materials Index). Its worst print in 2018 as it lapped the 2008 global commodity high was -63%. That was the third-worst secular print…...
![Random Long Opportunity of the Day](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2013/10/2013-10-28-RNO-Weekly1.png?resize=150%2C150)
Random Long Opportunity of the Day
RNO is plotted on a daily basis below. This one is a coal-focused MLP. Not something you see all the time. This has been one strike against it since it came public in 2010. The second strike against it is…...
![This Stock Sits at 24-Year Support](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2013/04/2013-04-29-CLF-Weekly.png?resize=150%2C150)
This Stock Sits at 24-Year Support
CLF on a weekly basis below. Had put this on my radar to pick up at $16 but got preoccupied with other things late last week and missed. Regardless, the $16 target was defined by 24-year support line (1) in…...
![More Evidence the Commodity & Emerging Market Secular Bull Run is Over](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2013/03/2013-03-04-Ratio-DJ-Basic-Resources-vs.-SPX-Weekly.png?resize=150%2C150)
More Evidence the Commodity & Emerging Market Secular Bull Run is Over
The chart below highlights the ratio of the DJ Basic Resources Index vs. SPX. Note the secular rise in the ratio from 2002-2008 indicating the ongoing strength of the secular bull market in basic resources, commodities and emerging markets/infrastructure growth….
Continue to Believe that China Can Remain a Source of Out-Performance
Historically we’ve focused this thesis on the idea that such out-performance would come via the SPX. That said, with a little bit more digging, the ratio charts below also suggest that the SSEC can out-perform the companies that have historically…...