KING COPPER EXPLODES; $BHP, $FCX ERUPT WITH JOY

Shares of BHP and FCX are through the roof this morning as the commodity extended an already decent run, higher in 10 of the past 13 days.

With 17% of FCX’s float sold short, Carl “give me three…seats on your rotten board” Icahn as its largest shareholder, this is setting up to squeeze the shorts and expedite a Viking funeral.

It’s worth noting, at 0.34x sales for FCX and 1.2x for BHP, both stocks, valuation wise, have never been cheaper.

Then again, the world was never ending before, was it?

Stocks look strong. I like the tone and breadth of this rally.