That moment when you go to bed watching a key ingredient play with an important floor level, then wake up to its cruel reality. It had to happen, I suppose, so having it happen on UK inflation day (+9.1%, ouch) and Jay Powell jawbone day means we get to find out the real fundamental strength or weakness of Dr. Copper sooner, rather than later. Markets test components, it’s what they do.
UPDATE: I don’t know what chart you have centre-screen on five minute auto-update with tight alarms today, here it’s HGU22.
Still will outperform S&P. But yes, had to happen due to all the slowdown.
Good buying opp coming up in the next few months IMO
I remain upbeat on the fundamentals, but it’s going to be a time to tough out that position.
I sold all my copper stocks at the end of Q1/2021 when the copper miners started calling it the new oil and saying copper at any price was the outlook.
They sounded a lot like shale drillers in 2014.
Copper CEOs still way to bullish on themselves for a saavy investor to be involved.
Thank you for gracing us with your presence.