"Money is like a sixth sense without which you cannot make a complete use of the other five." W. Somerset Maugham

Copper Stocks

1. June 2009• Stock watch list, • StocksPhantasmix Tags: , , , , , , , , ,  2 comments

(FCX: 32.5525 -0.02%)
(MAD: 0.00 N/A)
(PBM: 12.65 -1.09%)
(PCU: 0.00 N/A)
(SLT: 7.01 -4.88%)
(TGB: 2.75 +0.73%)
(WIRE: 24.98 -0.44%)

One might think that if one copper stock is breaking out, the other copper stocks should do the same. Doesn’t look like it though.

Strongest according to the lazy charts (ya, these are lazy charts, pardonnez-moi) are:
FCX, with earnings — sorry, losses — only half as bad as GM’s
PBM, cheap cheap, probably the best lottery ticket of all, but I won’t touch it
SLT, looks ok, has potential
TGB, a ‘maybe’
WIRE, nice!

june1_copper

 


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2 comments:

  1. headlinecharts, 1. June 2009, 22:57

    don’t you think commodities and stocks are getting a bit extended? Seems like a better time to be holding and wait for the next pullback.

     
  2. Phantasmix, 2. June 2009, 0:18

    Yes, I think they’re over-extended here, but not sure that the pullbacks will be very deep.

    I’ll be watching the U.S. dollar for direction, more than anything.

    Btw, check this out:

    SPY vs $US

    It’s only obvious on a 1-minute chart, but it works. If you look at a daily chart, or even 15-min, the correlation isn’t as clear.

     

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