Alert: a major turn in commodities beginning today?

Let's position for it.

Risk appetite across the globe has helped to keep commodities buoyant, if not on the rise. But relative under-performance in some commodities coupled with a potential shift in global growth expectations may be coming together to pressure commodities sharply lower in coming weeks.

Read through my Currency Currents from today , if you haven't already, for additional information.

That said, I think it makes sense to target copper/base metals, silver and agriculture here. I will provide additional chart analysis and commentary in a regular issue later today or tomorrow. For now, I think BOM and AGA and ZSL offer good opportunities to get positioned.

Trade Essentials.

Here is what I suggest you consider doing now:

BOM (Last price: $12.49)

Buy shares of DB PowerShares Base Metals Double Short ETN, symbol BOM, at the market. Then place an order to SELL ALL your shares of DB PowerShares Base Metals Double Short ETN, symbol BOM, at $11.40, STOP; this order is good till cancelled.

AGA (Last price: $17.57)

Buy shares of DB PowerShares Agriculture Double Short ETN, symbol AGA, at the market. Then place an order to SELL ALL your shares of DB PowerShares Agriculture Double Short ETN, symbol AGA, at $16.64, STOP; this order is good till cancelled.

ZSL (Last price: $11.40)

Buy shares of ProShares UltraShort Silver ETN, symbol ZSL, at the market. Then place an order to SELL ALL your shares of ProShares UltraShort Silver ETN, symbol ZSL, at $10.47, STOP; this order is good till cancelled.