Commodity Bears
A survey by Citigroup (NYSE:C) of professional investors found investing in commodities is be turning bearish and growing.
Most of this is based on stocks related to basic materials, which are considered high priced at this time, with little in the way of significant profits being generated with them.
Along with the obvious building materials industries, other sectors include steel, minerals, diversified chemicals and metals.
Oil is also expected to remain level based on little increase in demand, although there is a lot of contrary thought on that, as many feel it'll rise into $90 a barrel in 2010.
In general, this survey talks more of companies reliant on commodities than they do on pure commodity plays. We also have to consider individual commodities as well, where some are poised to surge like iron ore and gold, while others need to be approached with a long term outlook.
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