The four-year bear market that pushed raw materials to the lowest level in a quarter century came to end as supply constraints drive a recovery in everything from soybeans to zinc. The Bloomberg commodity gauge rose 1.1 percent Monday to push its rally from a January low past 20 percent to meet the definition of a bull market.
West Texas Intermediate declined 0.1 percent to $49.64 a barrel in early Tuesday trading after jumping 2.2 percent on Monday.
This is the value of patience, and dispassionate observation of the markets. We provided a 3-month advance view of the commodities recovery. No one else was publicly calling the bottom of the commodities bear market as early as we were. Now watch as everyone else rushes to get the news out - late.