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Topic: Copper bottom (Read 996 times) previous topic - next topic

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Re: Copper bottom
Reply #15
For Entertainment Purposes Only.

Re: Copper bottom
Reply #16
I just reviewed this thread and Ed, you have been so spot on since starting it. Bloomberg has discussed copper this morning.

Re: Copper bottom
Reply #17
I just reviewed this thread and Ed, you have been so spot on since starting it. Bloomberg has discussed copper this morning.
Just noticed this. Thanks! you jinxed me. ROTFLMAO

Just kidding, I know I am wrong sometimes, all on my own. Knowing that charts are possibilities not facts is the most important thing about doing them.
For Entertainment Purposes Only.

  • andre171
  • [*][*][*]
Re: Copper and First Quantum Min.
Reply #18
Last week, good results and good news from Panama, but FM remains at just 14 CAD! Why no reaction when perepectives are good?

Re: Copper bottom
Reply #19
Classic cup and handle. Longer term, I can see it over $6. Mid term, (a year or two) $4.75 as a target for the cup and handle. Just above the all time high.
For Entertainment Purposes Only.

Re: Copper bottom
Reply #20
Classic cup and handle. Longer term, I can see it over $6. Mid term, (a year or two) $4.75 as a target for the cup and handle. Just above the all time high.


I have a lot of trouble with my confidence to predict all industrial metal's path forward as I think the economy is due for a thorough thrashing and the fed is going to fight it with money printing like we have never seen before. Money printing will in the short term create a little consumer demand increasing demand for the metals, but sooner or later the wealth stolen from existing dollar denominated assets to give the new money value will be realized and inflation will come back also stimulating prices via the measuring tool changing, not the wealth represented by the mined product.

Once the reverse wealth effect is realized from the inflation, demand for products and the metal will decline putting pressure on prices, and I cannot get comfortable with what forces are going to dominate. One thing for sure, with a decline in the world economy, the wealth required to produce finished metal will go up faster than its demand, so pressure on the companies should reduce the true wealth of the shares, but price per share may still go up if dollar devaluates faster than wealth per share. Another complicating factor is all the dollar printing that has taken, place particularly since the last recession, that has not yet manifested in commensurate inflation which will come sooner or later.

This leads to a much more general issue with the fed's unchallenged 2% inflation is stable policy, that being 2% inflation is not stable and with stable not being stable, the one tool we use to measure about everything in the economy is not stable. Can you imagine a carpenter who had to use a ruler that stretched on average 2% every year but not uniformly? Use the same logic on anything else and one gets the idea that it would be preposterous to require that hardship on any craftsman. Why then do we impose it on every individual that participates in the economy? The only way around losing wealth in dollar denominated assets like bonds, cash even if in interest bearing accounts, etc., is to not hold them. Rather, hold alternative real money or their derivative assets.

Just my thoughts, not advice.

Re: Copper bottom
Reply #21
For Entertainment Purposes Only.