Copper up with precious metals this morning. We are definitely back to "risk on". Nothing much going to happen until interest rates or currencies begin to rock.
July contract unchanged this morning standing at $3.16. Incredibly, LME stock levels continue to plunge. Now at 197,475 tons. I've never seen it below 200,000 tons.
What is surprising per COT is large & small traders are still net short Could be more potential short covering to add fuel to the rise
Interesting. Only down a penny or so today on a bad hair day for equities. I agree...I think we could see as high as $3.25 over the next 3 months. It's uncanny how it's stayed above $3.00 in the recent swoon.
why is this thing so feisty? He is always screaming thru his lungs. completely unprofessional, no1 else in CNBC does this. when is he going to die of a heart attack?
Oh, quit it....everyone just ignores his antics, all from his Italian heritage. In this case, he's screaming because HE ISN"T IN THAT GAME. He's jealous. Establishing a successful HFT firm is a ton of research and hard work. In contrast, any bum could set-up a $10k account at interactive brokers and start day trading. Most lose money precisely because of why HFT firms succeed: trading with proven strategies.
July contract up near $3.20 !!! One might wonder: is the bear case finished for now ? As long as we are in this low interest rate environment, it will be.
Agree. I'm still looking for a slight correction but a little deeper than this little blip but we will see.