Taseko Mines Ltd T.TKO

More Voodo

[Cognition777]

Anyone else spooked by the voodoo taking place today in the copper space?
As mentioned before, the copper reversal triggered last week gained momentum and spiked today and bumped up against that $4.60 voodoo resistence level a few times as it went sideways most of the day.
There must be a fundamental reason for that somewhere...
did I miss some government policy change?
perhaps a report on supply and demand that mathematically led to a $4.60 pricing?
I want to avoid calling it technical resistance because that would make me sterile ...

[nofluff]

U must have missed my post cog. China had massive flooding. Pulled massive refined copper off market plus rebuild demand. nf

[nofluff]

So wild speculation. China refines half the copper in the world. So lets say 50 thousand tonnes per day is off market. 10 days is 500 thousand tonnes. That is all we have in all monitored wharehouses. This could get brutal. nf

[nofluff]

However china factories will b off line as well. That will just make for more pent up demand.  5.00 this week, my guess. nf

[nofluff]

however, the big thing is the amount of food removed from the country. Ag tech is way bigger than copper. nf

[Cognition777]

my question isn't about which fundamentals led to a reversal in sentiment and price... that can be explained by the events in China as you mentioned. my question IS, if technical analysis is imaginary voodoo for sterile primates (as Metalhead suggests), why did the price of copper spike today to the $4.60 TECHNICAL RESISTANCE LINE that I mentioned in my original post last week, and then it

[nofluff]

That resisrance is about yo b broken by the fundamental supply demand overiding stuff. nf

[metalhead666]

Magic! It was a magical number!  You see what you want to see.  What will you say tomorrow if it's at $4.50 or $4.70? That it broke "resistance" or it failed at "resistance"?  Did you buy futures contracts on this? Why not? Does it tell you where the price will be on Wed after the FED?  How about on Friday?

[Cognition777]

That's not what I asked, Metalhead. Explain why it rocketed to $4.60 and then paused 3x in light of the fact that a Technical Chart predicted that it would likely find resistance at $4.60? Whether it breaks resistance or fails at resistance is another story of fundamental/technical voodoo ... but you're dismissing the $4.60 mark as though I saw the pattern AFTER it happened; I saw a

[metalhead666]

Wow!  You're going to be rich!  Did you call  $4.52 for 4am this morning?  What does your cyrstal ball call for Friday ...I'll go all in on it!   Make 100 calls and keep careful track of all the hits as well as all the misses then get back to me what your correct to the penny call ratio is.  Then collect your Nobel Prize and all the job offers from Wall

[metalhead666]

[Cognition777]

SO what you're saying is, you don't have a good answer.

[metalhead666]

That's a malformed question.  I have a friend who's a jesus freak. He claims that he broke his back and that he prayed to jesus for healing and magically he was cured. No more broken back.  I called BS and he asked me "Well how do you explain it then?"   See what a stupid position that is?  In logic it's called shifting the burden of proof. YOU are

[Cognition777]

Ah, "ducking the frame on round 3". 1. I said, $4.60 was resistance 3 days before the price proved that $4.60 was the price resistance 2. You indicated that it was nonsense; the market responds based on fundamentals. 3. I asked, give me a fundamental reason that it kept resisting a break through $4.60. 4. I'm not shifting the burden of proof; my hypothesis became reality... please

[metalhead666]

OMG...I'll bet that you're deeply religious too. Believe in angels and demons?  Have you ever taken a statistics and probability class? Do you know how science works?  Science doesn't make a couple of guesses which happen to work out and then conclude it's a fact or a miracle.  Predict the price on Friday, then next Friday and the Friday after that...do this for a

[metalhead666]

Pattern Seeking Primate