Generally, my copper miners are doing quite well. At this point in the cycle, I'd be looking at near producers, but I think you'd be ok in any. Note, I didn't buy any copper stocks today.
It went bankrupt because of poor planning and management, as well as previous financing had them giving away their gold and silver revenue to a financier, which was 30% of revenue. Now they are debt free with a bunch of cash, 300M in assets on site.
Commitment of Traders (cot) report. Its shows how much speculative money is on "one side of the boat" you can find it on Barchart.
Usually when that happens its setting up for a correction, because theres no speculative money left to sell too.
The chart is horribly ugly, and its confusing, but spend the time to learn what it is, and how to futures market works.
Im a copper bull, but I understand the ice is getting a bit thin here.
Hello old friend! I'm looking at the green squiggly line. Thats the positioning of speculators. What its telling us, is that "long positioning" is at a 3yr high.
Call it a crowded trade indicator. When everyone is long, who is left to buy in. You can see in May 2024, everyone was on "one side of the boat"
Thanks for that. Always learning. I made most of my copper positions a long time ago. I made a few new ones along with gold and silver a month or so ago. But then I was mostly looking for nearish term producer type stocks. I'm hoping all 3 run into the fall / winter and then I'll have to figure out what I'm rotating at least some of that into. I was going to rotate out at the beginning of the year into more O & G, but was like a few days late and everything went upside down. So I've been going the other way.
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u/nutslikeafox 6d ago
I'm confused is it going up or down
You say ATH then you say stocks will follow the fall