Tomorrow if BIG BEN does not weaken $ by further quantitative easing ( who knows which form it will come), US $ will strengthen and equities, commodities etc.. will be under pressure. This is just one scenario but a lot is riding on it.
Copper continues to be THE risk asset to be short, not equities. You can play copper via the ETF JJC or through FCX. Much cleaner trade then trying to short the ES. Just my opinion.
Here is a nice spread chart showing the smoothness of the spread between being long SPY and short FCX dollar neutral. Up 20% on the spread in the last 2 weeks. This is how you short the market and win whether it goes higher or lower.
Maverick, Thanks as always. FCX actually caught my eye today as well. Always nice to know I'm in good company!
Agreed. Here is copper 30 days number line over last 8 days. -3,-3,-1,-3,-1,-1,1,1 and for ES , -6,-8,-4,1,0,2,6,8. copper weakness has been quietly showing slowing GLOBAL GROWTH.