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Doctor copper had a setback yesterday. Note the bearish momentum indicators with a strong downtrend.
If there is bad news out of China, or the US dollar starts to pickup further momentum, we may see a fairly sharp correction.
Copper's upward run lasted longer than anticipated, but the latest data seem to indicate a top has formed.
If we start to see a substantial slide in stocks and commodities, we may see Benny threaten to fire up the printing press again.
QE3?
If you believe in your analysis then you would be either selling/hedging/shorting gold position, if not then you don't believe your analysis.
ReplyDeleteSo which one it is PW ?
Walter.
Walter with all due respect, are you a Troll?
ReplyDeleteYour comments suggest it.
Bill
Bill,
ReplyDelete>>Walter with all due respect, are you a Troll?
Haha. You think so ? Sorry Bill if you cannot understand what I mean, don't worry over time you will get it. With all that said and done, I think PW knows exactly what i am trying to convey.
This site being purely bearish, I try to bring other side of the prospective into play as well.
One should have an absolutely open mind while approaching the market. One of the most valuable lessons I learned while selling a position (if I am holding/long) "Will I be shorting it from that point ?" If not then why sell ....
Walter.