Take physic, pomp

Chart of the day is….

….copper, the most recent action via 60 minutes candles.

Yes, direct from the world of WTFDIK?, here’s the metal that’s supposed to have a PHd but gets pushed around by the bullies with the most money just like the rest of them (us). Remember all those commentators last year saying $140/bbl oil wasn’t a hedgie-induced bubble? Yep you guessed it, they’re saying the same thing again right here right now about Cu.

But no matter the cause, more interesting the effect. IKN Weekly subscribers have been pointed to a couple of small junior Cu plays that haven’t as yet joined the mayhem and fury and as such they present decent risk/reward options right now. Even if we get the significant drop I’m still expecting (waiting for Godot) to, let’s say, Cu $2.50 there are plenty of names worth considering, so here’s another time when market expectations and fundies on the stocks have greatly diverged. Always a good time to search for value.

Last thought: Keep watching that LME warehouse inventory number, dudettes and dudes. Now 292k and counting, when it breaks 300k I suspect the issue will catch more headlines. DYODDD.

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