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Copper & Crude Clubbed
While there was a disturbance earlier around the DOE data, crude and copper are now getting clubbed like a baby seal off the day's highs... It appears between Icahn's bubble comments and The Fed's reported impatience, momo trades are being unwound.
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Icahn's bubble comments and The Fed's reported impatience
US stock markets are now being moved by a lying investor and a lying Fed. How appropriate
MAULING MOMO MUPPET MOOKS!
YEAH BABYYYYY!
" getting clubbed like a baby seal "
That remark is offensive to Canadians, baby seals and animal lovers everywhere. Keep up the good work.
Funny the entities you mention have something really close in common. Just can't quite put my finger on it though - gimme a minute to figure it out...
Too bad the sheep have such short attention spans and limit ability to comprehend. Copper tends to be unappreciated as an indicator, but the modern world needs it everywhere, but nobody is buying......
Huge inventory, con't production...
..all while the world's ecomonic growth falls in the can. Crude chart looks like a sub going down into the marianas trench.
Dr Copper is an important barometer of the commidty sector. Dr Copper is an important barometer of the economy in general. This because of its industrial use in electronics. But Dr Copper is not money. Dr Copper is not a precious metal and only precious metals are money.
Correct SG, but when the worm turns and people start looking for tangible value, the other of the only 2 elements-of-color will snap yer neck.
So for all those centuries when copper was the most common currency in the local marketplace, it wasn't actually money? We could also get into things like salt.......
Power is money.
Electric power cables contain copper.
Copper = power = money.
Big copper mine just 35 miles up the road from me is looking to begin devlopment next year. I wondered why so much silence about this big undeground copper mine and all the jobs this area was going to get. 3-4 years ago the news papers were full of stories about the investment, the jobs the new rebirth of mining here. Now all is silent, not a word. I expect, these copper price collapses has gotten the investors with their millions a littler nervous about digging one of the world largets underground mines to bring up copper.
Free market capitalism$ What a fucking joke!