Talk about not seeing the forest for the trees! The market selling copper producers because the metal is “only” U$4.10/lb is a prime example of HerdThink, running after the headlines and trying to stay ahead of the news. The amount of money Cu producers are making at these prices borders on obscene, but you’d think the whole sub-sector was about to go out of business the way the equities have been sold down. Evergrande will blow over too, haven’t you people learned anything from last year? Whatever It Takes rules the show, there’s no market crash happening.
So buy some copper producers! The low hanging fruit is everywhere this morning, personally hard to look past Copper Mountain (CMMC) but that’s just me; think Capstone, Ero, plenty of others too, even some of the advanced explorecos. Chase all the market fashion you like and run behind the MOMO to feed your FOMO if that’s what turns you on. Personally, Wayne, I like to skate to where the puck is going to be.