The correct answer to that question will dictate how you should position your portfolio. Being that we only trade commodities we prefer the inflation scenario but with or without inflation a common misconception is that we need to have inflation to make money in commodities and that is just FALSE. The Fed leaves rates unchanged as expected and states inflation will remain contained for an extended period but I'm looking at what some commodities have done ytd and am scratching my head?? Oil broke down today on a bearish inventory number. How we react to $69 will be key, use that level as your pivot point on the November contract. We remain mildly bullish but could get a probe lower in the short run. Natural gas was higher by 6% today, we traded some mini-futures from the long side but have covered being we expect a pullback and have a bigger interest in getting positioned long in options for clients on that. The dollar eked out a small victory closing higher on the day but did print a new low. The Euro-currency was lower for much of the day but did rally off the Fed. We are holding shorts for clients. Equities look tired. Cocoa made a new 14 month high but failed closing $60 off its highs, clients are short via puts. Sugar followed oil lower much of the session, the charts have very similar patterns. Like oil we may get lower prices short term but we suggest bullish exposure with a longer time frame. Gold and silver were lower, is this the beginning of the correction we've been calling for? Our target on December gold is under $950 and under $15.50 on December silver. Treasuries were mixed with December 30-yr bonds bouncing off the 40 day moving average. Euro-dollars were up on the day, we suggest fading this rally. We will continue to build shorts for clients in long dated positions. Live cattle were higher by 1.5% today forming a bullish engulfing candle on a nice reversal. As our specialty article from last week suggested "Beef up you Portfolio." Agriculture was quiet, we have clients positioned long corn and wheat.

Risk Disclosure: The risk of loss in trading commodity futures and options can be substantial.  Past performance is no guarantee of future trading results.

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Risk Disclosure: The risk of loss in trading commodity futures and options can be substantial. Before trading MB Wealth recommends that you should carefully consider your financial position to determine if commodity trading is appropriate for you. All funds committed should be purely risk capital. Past performance is no guarantee of future trading results. There are no guarantees of market outcome stated, everything stated above are our opinions. Calculations of profit and loss have not factored in commissions and fees.