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“SELL-OFF: The sell-off started overnight as Chinese traders came back from a long weekend. Copper prices falling below the 50-day moving average around $9,781 accelerated the sell-off.
CURBS: China’s state planner last week renewed its pledge to step up monitoring of commodity prices, as domestic producer inflation hit its highest in more than 12 years.”
Comment:
Huh? Are they trying to scare us?? The sell off started 7 weeks ago. Remember buy the rumor, sell the news? In this case, imo its BUY the news, because we can’t trust the news. The SCCO copper chart looks like a buy to me. 4.46% div 24 p/e.
On record, Copper, SCCO, FCX, palladium SBSW or PALL look ripe for a buy also.