for what it's worth ....i study chart patterns....and the weird pattern for today's action (really strange)suggests that tomorrow this thing is going to slingshot up to a blow off top for this (last few months ) move......maybe she rolls over or goes up 35 cents with narry a whimper....quite possible.... but my thinking is that tomorrow she sees a new high....good luck
I keep wondering if you aren't right about the affects of a US recession pulling gold/copper prices down.
On the one hand, the China - India - economies should continue to require copper & other metals for there expanding middle class. And a reduction of energy costs would help with mining production expenses/profits.
Just can't get my arms around a disconnect between the US economy tanking while the rest of the world doesn't. We aren't the world engine that we used to be but how unimportant have we become.
Good comparison might be the British Empire a hundred years ago.
Thats my whole pt. about just how undervalued this co. is.
The supposed Copper SA claims to have is 5 B LBS, todays Copper price is $3.60per lb, if that price dropped by get this 18 times the amount it would be 1 B $ our market cap today.
Would recession or whatever take it 18 times lower ?
Theres not a recession in China Did'nt they just swoop up Peru Copper ? Is'nt the Pound twice the amount of the $ right now .. Let us not forget this is a Global economy now..