49.40 is the 200 day mvg avg in the JJG. We might not get into the better Fib zones which are lower. This trade could be a few weeks early but we have been waiting an awful long time to see these areas. If the S&P can muster a rally higher on the day I would put this on my radar to pick up. This is another very long term trade that is best scaled into if you are an overall commodity bull. Again, every trade is a dollar trade. Watch the currencies for your ques. The commodities will continue to be under pressure as long as the flight into U.S. Dollars continues.

We will look to sell a big rally in the Euro against all commodity based positions.