RE: CCU - depends onna CU priceCu actually up fo' day while Gold crashed overnight ta $777.....anna recovers a bit durin' day.
Just da way I see dat!
HardRock
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Rock Copper - Survey o' Analysts
Da Rock issa always suspicious o' surveys...............assa if I know special secret insight, I'm gonna tell it ta da survey people?
Anyways...........when hassa da market behaved accordin' ta surveys........assa how it should behave?
Da people ta listen ta.................are da company copper buyers.............assa ta da requirements...........not analysts..............who all 'ave hidden agendas!
Anyways.............Gold issa off by over 3%.....hittin' lows o' $777.............Cu issa down by .8% anna has actually gained fo' da week.
So..........ma main point.............Copper seems ta 'ave bottomed...............Gold issa still searchin' fo' bottom........Cu depends on market forces.......supply anna demand..........Gold issa manipulated by US$ Euro$ among other factors.
Just da way I see dat!
HardRock
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Copper May Extend Longest Selloff in Seven Years, Survey Shows
By Claudia Carpenter
Aug. 15 (Bloomberg) -- Copper may drop next week, extending the longest selloff in seven years, on speculation slowing economic growth and gains in the dollar will erode demand for the metal used in cars, homes and appliances.
Twelve of 23 analysts and traders surveyed by Bloomberg News yesterday and Aug. 13 forecast copper will decline. Ten expected an increase and one was neutral. Copper for delivery in three months on the London Metal Exchange is down 1.5 percent this week, heading for the seventh straight weekly decline. Prices dropped for 11 consecutive weeks into mid-August 2001.
U.S. housing starts in July probably fell 9.9 percent in July, erasing the advance in June, according to the median estimate of 25 economists surveyed by Bloomberg News. The Commerce Department report is set for release Aug. 19. Copper is used in electrical cables, pipes, wiring and roofs for homes. The dollar has climbed 7.7 percent against the euro in a month, eroding investor demand for commodities.
This week's survey results: Bullish: 10 Bearish: 12 Neutral: 1
To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net
Last Updated: August 15, 2008 01:50 EDT