Markets at a Distance

I noticed Copper is up today.

2.5560

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aCrRxt7iM1ng&refer=home

I haven't traded copper before, but everytime recently I notice its in the red. Today for some reason it stood out.

Economy is not slowing as expected.

 

copper above 2.60 this morning.

 

so a 1.1% retrace after a 25% slide in 5-weeks is enough for you to come to that conclusion?

 

nah.. but it coincides with credit/fx market pricing currently, regarding economic situation.

Lot of people have made bets the economy is going to tank secondary to housing.

That scenarios is delayed or is not panning out as expected. So those bets are being covered.

Dollar is bullish, Credit seems bearish. Equities sideways.

Your right it could be just a short term blip against the technical decay that occurred.

Greenspan said in Japan, a day or so ago housing slump was about over. And others from FOMC are stating the same thing.

So the chances are there that it might not be just a blip.

 

2.66 seems up 10 cents up 4%.

 

you are correct, my miscalculation, i have +4.7% on day. Bond market is undergoing a serious reevaluation of the economy too since last week;s ISM and employment data.

 

Copper struggling to make further gains.

 

Copper at 2.63 starting the day weak.

 

copper yippity with upward bias..2.60