But what about copper ?

Talks by the Chinese government about further stimulus to their economy has given copper a short-term boost here.
May contract up to $3.05 this morning.
(I was expecting this to happen.....copper didn't stay under $3 very long, did it ?)

 

Poof....goes the short-term rally.
Copper can't move up with equities tanking.
It needs a "crutch" from equities....or the Fed !!!

 

Marty Pring steps forward with some insight and analysis.
I like his point about sentiment. Sentiment levels are so low right now, it's hard to be super-bearish. We need a good bounce before a short looks good here.
http://www.marketwatch.com/story/should-it-be-dr-copper-or-pinocchio-2014-04-03

Indeed, even with the swoon in equities today, May copper is up 2 cents.

 

Weak China Trade Data
Indeed....copper still holding above the super-strong $3.00 level.
May contract at $3.03 today despite this bad news.

 

Am inticipating a move higher for a few weeks to months then resumption to back down, so I am maintaining my shorts in Copper futures, but selling put option credit spreads.

 

What do you predict will happen with China?

 

All metals down huge this morning. What's the news ? I could not find anything.
May Copper down 6 cents.

 

Copper's weakness may spell trouble ahead for China, which would then bleed over to our QE propped market.

 

Yeah, but remember all of the shadowy things happening in China......there's no transparency. My guess is that they'll pump-up their economy once more with lax lending standards.
This is such a crapshoot now down at this low $3.00 level.....
I like Handle's idea of selling option premium. Copper now likely to trade between $2.90 and $3.20 for a long, long time.....unless world economies all tank badly and together.

 

%%%%%%%%%%%%%%%%%%%
I see your points;
but '' its a bull market you know''LOL, not in copper, but SPY,QQQ,DIA, gold, GLD.But big problem for the bulls, perhaps, its a REAL OLD, eXtended bull market with SPY taking out a monthly low, all ready in 2014.
Another problem for the bulls, long term SPY buy volume is decreasing;
monthly SPY sell volume is increasing[25+ 10 +/ year candle charts].

SELL in May + go away; not a prediction;wisdom is profitable to direct