GREY:MLKKF - Post by User
Comment by
garygpon Mar 17, 2009 5:14pm
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Post# 15850557
RE: Copper flying down. It's started to drop big.
RE: Copper flying down. It's started to drop big.Goldman9, I agree with you wholeheartedly. It appears to me that this is just a short term rally lasting from 2 weeks to 2 months, give or take a bit, and really nothing more. Throughout the world, and this is a worldwide phenomenon, the currency meltdown has not yet taken full hold. We are in a currency battle here and the mainstream fools don't yet realize this, in fact these people are still calling this an economic debacle. Until banks, financial institutions,governments, countries et al fix balance sheets and the entire currency structure, nothing meaningful can or will take place.
I read on the board here one poster that stated he/she feels we are forming a bottom and a new bull market will soon develop...this comment is partially correct and that is the BULL part, and thats what this is, is BULL. I hestitate to call this a dead cat bounce but that just might be what it is. I too noted the large cross from Scotia (I believe it was), which could be nothing more than them (Scotia), adjusting portfolios which to the average investor means nothing.
I feel that what we have here is an opportunity to trade many stocks if a person is so inclined, ML included, but to see this as a meaningful rally from which to launch is foolhardy. This is a traders market, so if you must trade, get in and out quickly.
gary