Post by
Cognition777 on Jun 17, 2021 9:34am
Why the panic?
Not sure why people seem to be panicking about the recent decline in copper price...
Technically, there is still good support at $4.20ish which copper has bounced off of 3x since September. Should see in the next few days whether that line holds up. There is also lower support at $3.90ish since March, 2020. I'm not concerned unless it breaks through the lower support.
The idea that copper is dropping because the USD is rising doesn't hold much water. Of course there is some correlation, but there are too many fundamentals supporting copper for the USD to dictate much of the market consideration for copper pricing.
Silver lining is that TKO revenue (at this point) is in USD and expenses are in CAD, which takes some of the sting off.
Comment by
Milky187 on Jun 17, 2021 9:44am
I am buying as much as I can today.Can see a huge rally coming in both copper and TKO. GLTA
Comment by
nofluff on Jun 17, 2021 9:59am
Yup. Got a complete fill at 2.51. Next try. 2.24. Tuf to stay at only 100 t on these guys. Happy guessing. nf
Comment by
nofluff on Jun 17, 2021 11:18am
lots of guessing now. At what point do chinese start buying back import copper. I am guessing they were selling at the top before anouncing there strategy. They have lots of mine contracts to honor. What happens when permit is issued? After this pull back we should get a good jump I guess. nf
Comment by
Returns2021 on Jun 17, 2021 12:25pm
Of course nofluff, u keep buying like a bank......i call that b.s.
Comment by
Returns2021 on Jun 17, 2021 12:26pm
Milky - of course you are buying all you can - if you say so LOL. Congratulations on becoming a bagholder
Comment by
Returns2021 on Jun 17, 2021 1:10pm
Well your support of $4.20 didn't hold long, LOL. Anybody buying shares is going to end up losing big