[realtraders] Oil vs Copper, Lumber and Cotton {01}

["Earl Adamy" <eadamy@xxxxxxxxxx>]

Given the apparent strength of the economy, I have been wondering for some
time now why copper, lumber and cotton have been so weak relative to oil
which has continued to boom to life of contract highs. I am beginning to
wonder if oil might be giving false signals of commodity inflation due to
Y2K issues (there is considerable evidence of stockpiling driven energy
demand on the part of both consumers and commercial users). It should be
worth while to keep an eye on these other commodities as we cross into 2000.
This is in no way a prediction, however if these other commodities continue
to show weakness, we could see commodity inflation worries suddenly
evaporate if there is no major dislocation in energy supplies evident after
the first week of January.

Earl