'Twas the last energy report before Christmas,
And many commodities broke out!
They were driven by demand
And by frost and by drought.
The traders put on their positions with care
And hoped that their equity still would be there!
While they were all nestled all snug in their beds,
Visions of parabolic sugar charts danced in their heads.
The copper was soaring even the scrap!
And cotton each day just continues to gap!
While European downgrades are a big part of the chatter,
It seems tight supplies and China is all that really matter.
In Chile a force majeure and copper flew like a flash,
Hitting record highs in London with no fears of a crash.
And oil is rising due in part to Europe's cold
And the snow and oil bulls have finally picked up some dough.
When what to my wondering eyes should appear,
But multiple plays, to end an incredible year!
The commodities markets are just moving so lively and quick
And you should be getting my daily numbers so you don't miss a trick!
Then like vultures OPEC they came,
They will raise production but their quotas remain!
Now Iran! Now Iraq! Now Kuwait and Algeria!
On Venezuela! On UAE! On Qatar and Nigeria!
Libya and Ecuador have their backs to a wall,
And Saudi and Angola will cheat for them all.
Now go away, just go away, go away all!
As China sits back their inflation will fly,
And if they don't raise rate quickly, it will mount to the sky!
So up to the house-top their home prices flew,
With the sleigh full of dollars, it's getting bubble like too.
If it pops in a twinkling, prices could fall from the roof,
And all of those commodity profits would be gone in a poof!
As China drew in their head, and was turning around,
All of a sudden the dollar rebounds!
After QE2 we thought the greenback kaput,
Yet with yields that are rising a recovery seems underfoot!
The buying of toys and the shoppers are back!
And there is no doubt that manufacturing is on track!
The economic data looks better and retailers look merry!
Now if we get some hiring that will be like topping with cherries!
So commodity bulls have nothing to dread,
Unless China raise rates or maybe the Fed.
Silver and gold and corn has risen, even the bellies,
And your food will cost more when you go to your deli.
Of course we won't be that merry until the unemployed get back to work,
And the problems in Europe continue to lurk!
It wasn't that long ago when all of our lending froze,
Yet we might as well be optimistic as the year comes to a close!
Our soldiers are fighting in lands far away,
And we should remember to pray for them each passing day.
It is for freedom that they are putting up this incredible fight.
So to them and all of you Merry Christmas and good Night!