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.
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"
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.
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=
Thanks for the comment, but uh.....I could not determine if it was bullish or bearish. What do you mean by "break" ? Break-up ?
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
Do you watch other markets.. Or just hyper focus on copper..do you find yourself always bearish about things in other instruments?