Monday, September 8, 2008

Copper

Otto's been pounding the table about Copper recently, and he quite likely has a point, at least as far as the short term.

five weeks ago I wrote a post bearish on Copper, in which I mentioned a near-term price objective of around $3. it didn't quite hit the mark, but got pretty close. if any of you went short based on that analysis (doubtful) you might wanna get out. and next time don't be so greedy, technical price objectives aren't meant to be taken literally.

and before you go, look at this longer-term chart of the Copper/Gold ratio:



well, the more I look at that, the less I like Copper. eh, do whacha want. keeping track of all these different markets is starting to irritate me.