• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 1 hour Shale Oil will it self destruct?
  • 1 min NYT: Mass Immigration Roundups in U.S. to Start Sunday
  • 10 mins White House insider who predicted Iran False Flag, David Goldberg found dead in his New York apartment
  • 3 hours U.S. Administration Moves To End Asylum Protections For Central Americans
  • 2 hours U.S.- Taiwan: China Says Will Freeze Out U.S. Companies That Sell Arms To Taiwan
  • 3 hours South Korea imports No Oil From Iran in June - First-Half Imports Fall 37%
  • 4 hours Starlink Internet Courtesy of Tesla
  • 1 day Panama revoked registrations of tankers flying under their flag that have not complied with sanctions. Most are Iranian tankers. Vessel seized in Gibraltar, Grace I, flying under Panamanian Flag. Registration revoked in May. England seizing justified
  • 1 day Oil Price Could Fall To $30 If Global Deal Not Extended
  • 23 hours Rising air pollution and green house effect
  • 1 day Is This The End of BBQ?
  • 21 hours U.S. Economic Expansion: Rich Get Richer
  • 14 hours Germany exits coal: A model for Asia?
Alt Text

Lithium Plunging As Chinese EV Production Slows

China’s electric car subsidy changes,…

Alt Text

Vanadium Spikes On New Chinese Regulations

A new regulatory measure in…

Alt Text

Peak Lithium Won’t Happen Anytime Soon

Peak lithium is not happening…

Mad Hedge Fund Trader

Mad Hedge Fund Trader

John Thomas, The Mad Hedge Fund Trader is one of today's most successful Hedge Fund Managers and a 40 year veteran of the financial markets.…

More Info

Premium Content

Upgrading Copper

They say that imitation is the sincerest form of flattery, so I felt like puffing out my chest yesterday when Goldman Sachs (GS) announced an upgrade of Freeport McMoran (FCX), posting a six month target of $96/share. (FCX) is one of the world's largest copper producers, and has a nice little gold business on the side, as the two are often found together. The Vampire Squid said that demand from China was unrelenting, would continue into the foreseeable future, and that it was not all about stockpiling.

I always welcome more investors joining the bandwagon after I have established a position much lower down. Their report adds confirmation to my recent piece on the red metal (click here for "Is Copper the New Red Gold"). It also bodes well for my call on Chile (ECH) (click here for "Chile is Looking Hot"). Long time readers know that I have been bullish on copper all year, listing it in my 2010 Annual Asset Review as one of the commodities that will outperform for the next decade.

Like all other hard assets, copper is a direct beneficiary of the QE II rumors now sweeping the financial markets (see above). In the old days, such a move by the Fed ritually delivered strong bond prices and a weak dollar. In the "new normal" it also triggers a tidal wave of buying things that hurt if you drop them on your foot, like precious metals (GLD), (SLV) industrial metals, coal (KOL), and iron ore (BHP).

These are the "new dollars" with the unique attributes that they can't be made with a printing press, aren't being made anymore, and the number of potential consumers is growing by 175,000 a day.

By. Mad Hedge Fund Trader




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play