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A Very Mild Alert: The CCI Breaks Out to New Highs

Thursday, December 23, 2010, 2:45 PM
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Well, I can rip down the post-it from my monitor:  The Continuous Commodity Index has broken out to a new daily high, having bested the previous 615.14 level. It’s currently at 617.35.

This means that the Commodity Index, consisting of energy (18%), grains (18%), livestock (12%), softs (29% - this is coffee, OJ, cotton, sugar and cocoa), and metals (23%) has never been at a higher level in history. Of course, this is in nominal terms, and I am not sure how much higher these may have been at earlier times expressed in dollars that were worth more.

But as far as current consumers are concerned, they are at all-time highs.

Unless the index reverses hard later today, the weekly index will close at a new all-time high. And unless it closes down hard next week, it will close at a new monthly high as well. Jim Rogers (et al.) wins this battle.

 

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