Copper Coming Back To Life

Copper is strong once again in the after hour session, trading back above $3.50. The Commodity traded north of 3.50 last night, on what appeared to be a breakout, but just didn’t have enough juice to hold. Now copper is back above $3.50 and looking to push higher here:

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They say to never short a dull market, but I did just that today, adding a few inverse ETFs to protect my long exposure. As soon as I put them on, I had an uneasy feeling, but at the same time felt like the right thing to do. With copper breaking out here, and oil firmly above $90/barrel, something feels different.

But, then again, when do futures matter? Europe is still a mess and we have shot up 150 handles in a matter of weeks. One thing is still for certain, copper is still the leader, and I’m a buyer of equities if this move above 3.50 holds.