Tuesday, June 24, 2008


Consumer confidence low.

U.S. consumer confidence fell in June to its lowest in 16 years as high inflation continued to sap confidence and pushed expectations for the future to a record low, the Conference Board said on Tuesday.

The Conference Board, an industry group, said its inflation expectations gauge matched the record-high 7.7 percent it hit in May, which will keep Federal Reserve policy makers concerned over price growth as they meet to decide rates on Tuesday and Wednesday.

And the stock market has really tanked over the past week, validating my decision some months ago to put my vast portfolio into FCOJ and Egyptian cotton futures.