Following last night’s catastrophic export numbers out of China (who the fuck do you think they’re exporting to?), copper is sharply lower this morning — off by 2.5%. Listen to me. This renewed decline in copper is going to feed on itself. First, there were concerns over China. Then, there was capital flight. Next, there will be weakness in commodities, mainly copper and oil, which will scare people into believing the global growth story that never was — really isn’t gonna happen.
This is called a ‘negative feedback loop.’
I’ve been, personally, fucked inside these things plenty of times throughout my meaningless career of money changing. I’d be long XYZ and then news would break that would crack my skull into pieces. I’d then spend about a month trying to mend my skull, as markets dove into the pits of hell — based off some human emotion called fear.
This guy had it right. Clamor and dream for recessions. You’ll never be disappointed when they come, truth be told.
As an investor, you could play stupid games and bet against VALE and BHP — effectively pussyfoot around the real loser in all of this, which is FCX.
I am short from $11.60 and hope to cover said short at $3, not a penny more.
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The copper crash was saved in feb by china printing. The setup is well defined now and crash over due. May fcx rest in peace.
The market is setup for weekly uptrend break. If confirm, it going to get super ugly.
It’s time for ibankcoin to become a bookie. Start with betting on who wins the election. Then take bets on who wins the World Series. Then go on to other games. All you need to do is take the vig, and who cares who wins.
They have a real problem after 2018 if copper doesn’t recover
Look at production guidance for PT-FI after 2017 in their investor presentations; there is a reason they don’t want to talk about this on conference calls….
Nice call thus far, and I think this will continue to go your way as stimulus fades and the wall of global Cu supply is in full force through the decade…..