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Look for the deflationary spiral to continue for the next month, meaning continued selloffs in commodities. If you read my previous commentary it discussed a break below the 5-year low of 1.55/lb in copper could push to our next major support of .60/lb. We've seen 4consecutive days of copper closing below this support level which may end of becoming the new resistance. Read below for further details.

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Michael Maniatis
Market Strategist
Lasalle Futures Group
888-325-9300
mmaniatis@lasallefuturesgroup.com  http://www.timemeansmoney.com/

If we see March09 copper selloff to .60/lb, we could very well also see $20.00 crude oil and 2.50/bushel corn. Gold running back to $650. Ultimately I'm bullish commodities after the Chinese New Year on January 26th of 2009 that we'll se a bounce higher in everything, but until then I believe that the deflationary spiral will persist. Having said that, many hedge funds, commercial firms, and large traders are ending their year and will probably come back into the market and reevaluate their portfolio composition into January of next year. Under these circumstances, it is my opinion that the trend to the downside will continue.

 I am recommending buying the Feb09 25.00 puts in Crude for $250 or better. I have other trades in corn, copper, and gold, but you have to call or email me for those recommendations. Charts courtesy of barchart.com