Did you notice how COW barely budged in the risk sell-off today? I wrote about livestock a few weeks ago, so this is just a short follow up.
Sure, it’s down for the week, which doesn’t make me happy. But where’s it going to go? To 28? To 27? To 26? On a day when equities are down roughly 1.5%, COW is down 0.35%?! It’s been building such a long base for three years, that I have limited downside and a lot of optionality on the upside, especially after a president is elected. You might wonder if it matters which candidate is elected. It doesn’t. Both candidates are more similar that you might hope. Neither one will institute austerity, and both will be forced to print. So…long COW!
Relevant ETFs: COW, MOO, DBA, JJA, DBC