I'm not going to graph, or do news. Just a summary of thoughts for Monday.
I'm still a huge bull on natural resources and related stocks. However, looking at the charts, Oil is a little "toppish", or perhaps is about to make a break for much higher territory.
DXO, UCO, USL, USO, are all showing near top resistance levels we have historically seen the last 4 months.
Gold (GLD) looks like another 3 bucks may come off gold ETF GLD, bringing GLD to around 84. Although gold may go much lower, at 84 GLD is starting to be more reasonable priced, and may be a good time to add slightly to the gold miners.
Food ETF RJA may move another 0.50 up before hitting hard resistance, as well as DBA moving another 2 dollars.
General point is, if your looking to buy into resources, it may be a good time to wait for them to retreat a little more first. Those already long, a little higher in oil/food may be a good time to lighten up.
If your in it for the next 5 years, every major resource stock is a buy and hold! Alcoa (AA) announces after close of business Tuesday. This one stock may set a trend for resource stocks to retreat or explode past these resistance levels.