Who will be next in the Commodity Crisis Crash? [MOO]

Everyone has seen energy and natural resources prices collapse.  We are also seeing many major stocks - any that have even a whiff of cloud on the horizon - just being completely sold off.  It's like the shorts are lining up all their resources on particular sectors and the trade is much thinner than anyone actually is led to believe so the long forces just cut and run.  I don't know what else could account for some of the massive selling that we have seen.

So all of these things will get the chance to collapse in serialized order until the big indices roll over IMO.  I am looking up and down the line to see who is exposed to collapse but who has not really entered the commodity collapse yet.

The chart of the Market Vectors Agribusiness ETF suggests that it could be the next shoe to drop.  Earlier this year it broke down major, multiyear support and that happened during a clear 3rd wave.  So I count blue 1 as done and blue 2 done as well.  This is a fine time to short this cow because of the expectation of a 3rd wave.




Note that it is possible that blue 2 labeled above will end up being A of 2 per below.  In fact, I'll take that as my primary count for reasons of conservatism.  But if this works up to the 50 fib and fills that gap in 5 waves I'm going to have to take out a bet against it.

I really don't see any sector escaping from its share of punishment. The shorts are getting stronger with each big name that stumbles and falls.