AFP: Commodities Collapse: Fast, Big and Still Going
The analyst who projected $200 oil should have lopped off a zero.
The crash in oil, copper, grain and other commodity stocks in 2008 has outpaced the crash of technology stocks at the turn of this century -- with many taking only six months for the 80% wipeouts that took the tech sector two years.
Chart watchers warn that the sheer momentum of the commodities selloff will likely carry losses even further. In other words, the very fact that oil has fallen by $100 and the stock of Potash of Saskatchewan by nearly $200 since the summer makes further declines ...
