Saturday, March 8, 2008

Come Take the New Poll

How will agricultural commodities as represented by the DBA ETF perform in 2008?
Is this market in a bubble or does it have more upside? Let your voice be heard.

The previous survey asked "Now that the 4th quarter earnings are out of the way, is it time to buy banks?" It appears that 45% of the respondents believe that the financial sector will sink by another 20%... and so far they are right on track. With Citi primed to write-down another $18B, the Fed announcing that it is injecting another $50B into the system at both auctions in March, the credit crisis spreading to more forms of debt, and liquidity drying up... the picture appears bleak. Another 30% of the survey respondents believe the banks will at best remain flat. Not much optimism in the banking sector, it is probably not time to bottom fish yet.