Correct me if I am wrong but it looks to have already turned..short positions are only at .34% ...was up a 1c on Friday, sugar up a few bucks and petrol rising, which puts pressure on the need for ethanol or demand for it...e.g. http://www.abc.net.au/news/newsitems/200606/s1659082.htm
Against this of course, housing is probably flat but business earnings, investment and growth is still strong...so there is still some room to run in Energy and materials...
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