Sep. 1 at 11:59 PM
$RIO $BHP $GLNCY $FCX $COPX
Several years ago when copper was trading around
$2.50-3.00 a pound, I made the
$6 a pound prediction for this cycle.
I threw out that
$8 was possible for this phase, but didn’t know if that could be reached.
As copper firms up around
$6.50 a pound, I’m going to definitely trim into that strength. I’m still waiting for after the next FED meeting.
I say The FED holds rates unchanged.
This will fuel the next leg higher for miners.
So set your reminder for September 16th for about 2-2:30 eastern and watch the mining sector.
I believe we’ll see solid momentum higher into October and possibly through year end.
Especially if WTI pulls back to
$75
I’m staying long miners and energy. Ride the wave. Investing in the commodities sector isn’t for the faint of heart.
Stay patient, big moves are coming. Even bigger than what we’ve seen.
Remember, Miners are historically undervalued versus the metals they produce. The disconnect will not last forever.
