But what about copper ?

[syswizard]

Here is another Dennis Gartman-like appraisal of the copper market:
http://www.marketwatch.com/story/forget-the-taper-focus-on-copper-2013-12-16
No question it could happen, but its going to take a lot of inflation for that scenario to pan-out. Given the tenuous job market and lack of wage growth, inflation is just unsustainable.

 

[syswizard]

Let's see:
Equities up huge today - CHECK
Housing starts now looking great - CHECK

Copper cannot even budge upward - WTF ????

It's like "Mr. Bill" squeaking: "Help me, help me...I'm weak"

 

[syswizard]

Gold teetering on the brink at the $1200 level.
The red metal down a few cents this morning.
So much for the reflationary theme.
I knew that was stupid after a Bloomberg article entitled "paying more with less":
Last 5 years:
Median Income ..........down 7%
College Tuition/Fees...up 28%
Restaurant Dining.......up 13%
Child/Day care.............up 16%
Cable/Satellite TV........up 14%

Let's repeat several times:
inflation is unsustainable without wage/income growth.

 

[billyjoerob]

if Doc Copper breaks that downtrend line, it's off to the races.

http://www.barchart.com/chart.php?s...0&g=1&p=WN&d=X&qb=1&style=technical&template=

 

[syswizard]

Thanks for the comment, but uh.....I could not determine if it was bullish or bearish.
What do you mean by "break" ? Break-up ?

 

[Canados]

I like 3.33 area for a potential long after break

 

[syswizard]

Quote from Canados:

I like 3.33 area for a potential long after break

Yeah...anymore 3 pennies is a big move.....LOL
What a lousy, listless market this has become.

 

[syswizard]

OK, you got your 3 pennies with March '14 hitting $3.33 for the high.
Of course, this news out of Asia propelled the metal upward (or did it just generate more short covering ?).
http://www.nytimes.com/2013/12/25/b...ears-ease-with-central-banks-action.html?_r=0

 

[cdcaveman]

Do you watch other markets.. Or just hyper focus on copper..do you find yourself always bearish about things in other instruments?

 

[syswizard]

Quote from cdcaveman:

Do you watch other markets.. Or just hyper focus on copper..do you find yourself always bearish about things in other instruments?

Why do you ask ?