China Copper Inventories Through The Roof

QE3 may be coming, but that may not help doctor copper much.

Based on the charts and more reports surfacing again from China that excess copper inventories are clogging warehouses we anticipate a strong pullback in the spot price in the short to medium term.

Tomorrow is the big FOMC announcement.

Will the Bernank give the market the stimulants it wants using the economy as the reason?

Will he disappoint?

Some charts (TZA) are so oversold that I suspect he will disappoint and a selloff will ensue.