After a great few weeks for the commodities trade, it's now time to get out, some strategists say.
The commodities trade is "not only being hit cyclically, but it's also being hit fundamentally, so I would expect a decline over the next month," Phillip Streible of RJO Futures said Friday on CNBC's "Trading Nation."
Strong gains across oil, copper, gold and other commodities have made for a very profitable month for bulls. In fact, March was the first positive month for the S&P GSCI total return commodities index since October, and the best March since 2006.
But Streible said that after riding recent gains, traders are repositioning more defensively as the Federal Reserve readjusts to a more dovish stance.
"We saw a lot of profit-taking come in in the first day of the [second] quarter," said Streible. "We've seen a lot of anticipation that the Fed will go on that two-hike cycle."