But what about copper ?

Decent rally today for the red metal...Naturally, all boats are rising on the tidal wave of QE3 money pouring into the economy.
Still, relatively speaking, this commodity has been weak.
 
I'm looking at $3-$3.10 as an area to cover shorts, in the next 2-3 months.

Anyone care to comment on the implications for equity markets given copper's vertical plunge in the last 2-3 weeks?
 
Quote from Specterx:

I'm looking at $3-$3.10 as an area to cover shorts, in the next 2-3 months.

Anyone care to comment on the implications for equity markets given copper's vertical plunge in the last 2-3 weeks?
More...
better place for speculative money to go? action is in stocks, bye bye commodities
 
Quote from syswizard:

Guys - for what it's worth I discovered Imageshack has major problems and apparently they attempted to use a bot to make the determination of a violation of their "rules".
Many, many users on that site are complaining of image take-downs that should not have happened.
More...
They finally emailed me saying it was an outsourced operation that caused the take-downs. Is everything today screwed-up by this outsourcing to India ? Appears so....
 
Quote from Specterx:

I'm looking at $3-$3.10 as an area to cover shorts, in the next 2-3 months.

Anyone care to comment on the implications for equity markets given copper's vertical plunge in the last 2-3 weeks?
More...
3 weeks ago, you could almost "feel" that someone was manipulating the copper market to make it look strong. Once they exited, it's been weak, weak, weak as hell.
Nothing seems to rally it: not FXI, not housing, not jobs. There is <some> correlation to gold and silver which are due for a rally, but not much.
$3.30 looms huge for any remaining bulls. Otherwise, any fiscal/monetary problems that appear are taking this thing to under $3.00.
 
Copper up a few pennies on jobs news and mostly due to a weaker dollar.
As a side note: The Yen continues it's march to "penny parity"...i.e. 100 yen per dollar = 1 Yen per cent.
 
Quote from oldtime:

better place for speculative money to go? action is in stocks, bye bye commodities
More...
Not so. Watch what happens when the central bank flood gates start to close. Commodities stand to take a huge hit to the downside.
 
Quote from syswizard:

Look at Copper dance around the $3.50 level....
It's a sight to behold !
Will it hold ?
More...
Pressure, pressure: $3.48
(remember the song by Billy Joel)
 
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