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Gerald Ashley wrote:
>
> Hi,
>
> Many years ago I was introduced to the well known phrase, "Copper has a PHD
> in economics".
> Are there many real traders out there who follow copper??
> It's not really my market, but there appears to be a killer buy signal in
> weekly MACD Divergence
> (very similar to the Nikkei a week or so ago) of the cash copper market.
> If this turns out to be true - look out, because copper doesn't hang about.
> Does this mean that all these
> cosy defaltion scare stories that are boosting the bond markets are in
> trouble??
>
> Any views from the Copper watchers if you are out there???????
>
> Regards,
> Gerald
I agree, Copper is way over due for at least a significant bounce.
The perceived oversupply in Copper is about to end as Jupiter leaves
Aquarius. I have been tracking copper since I was a kid and Dad was in
the scrap biz. 30 year low is about 55 cents. I think it would take a
depression or serious recession to get copper there, which I don't think
is gonna happen soon. I'm a buyer in the 70s and 60s.
Semi-preciously,
Norman
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