If you have 3 minutes check out this video from Jordan Kotick, from CNBC yesterday afternoon. (see video here)
He does outstanding work in my opinion and we are lucky to have him sharing his thoughts on TV!
He mentions in the clip the importance of the Shanghai index (see shanghai chart)
He mentions that falling commodities are sending an important message(see commodity clues)
He mentions copper has just had its worst one month performances in 25 years.
What can happen often times after a decline that has not happened in 25 years? How about an opportunity at extremes? What if this massive decline took copper/copper producer down to 10+ year support? (see copper opportunity) If the decline in Copper hasn’t happened in 25 years, the message is concerning for the macro picture, yet this extreme can present an opportunity as well!
The ideas he correctly discusses are impacts of a potential GE2/Great Escape Part 2 taking place (see GE2 impact) yet don’t overlook that counter trend moves can take place in larger scale down trends! FCX is up over 20% in three days and Copper/JJC isn’t doing too bad either today!