How copper prices have plummeted to six year low yet SCCO share price still going strong. Insiders across all companies are brilliant at keeping shares irrationally high short-term while they unload knowing that slowing demand and the next recession will eventually catch up to revenue and earnings in the months ahead. SCCO will go back to its long-term pricing of $2-$3 over the next 5 years.
Housing is yesterday's news. Look at the dropping median sales price of houses the past two months across all markets. The 14% Nasdaq free fall in August spooked home buyers and sellers. The numbers across the board and across all countries, save maybe India, are terrible. Revenue misses, PPI dropping, LATAM recession, Russian recession, commodities recession, China slowing, massive divergence in stocks (i.e. markets at 52 wk highs with majority of stocks not near 52 wk highs) suggests investors are turning risk averse, which is the #1 determinant of market direction. The situation is the most precarious it's been in 6.5 years.