RE:RE:RE:RE:RE:RE:RE:RE:Tough News?? Well. There goes copper again. Up .06 before I go to bed tonight. Worrying about macros is kinda futile. All that matters with this company is production and the price of copper. Yes, it is true that the price of copper and macros are tied together, it it is really hard to imagine any scenario where demand is going to drop more than temporarily. And in the short term we have the puts.
I guess you could try to trade thinking this is a short term top in copper. But that would be only if you are a TA advocate. I am not a TA fan for commodities. I don't think the same psychological rules apply. People buy commodities to use, not so much hold. Supply is still not meeting demand. People are afraid of China. We have this odd situation where the world powers are economically dependent on one another. China needs raw materials, the west needs cheap goods. The problem right now for everyone is the supply chain. The west needs the good and the east needs to make them. Hopefully someone will figure out how to get the truckers back to work.
Not sure how a China take over of Taiwan will look. I think they are going to try to do that while Biden is still not governing.
The macros are too difficult to predict, except for the fact that inflation in the US is here to stay. Way too much money being injected with not enough stuff to spend it on.
I will just ride the ups and down on a good company.