• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 9 hours EU has already lost the Trump vs. EU Trade War
  • 1 day Science: Only correct if it fits the popular narrative
  • 21 hours Crazy Stories From Round The World
  • 1 day Iran Burning: Shock Gas Price Hike Triggers Violent Protests After Subsidy Cuts
  • 22 hours Everything You Need To Know About Trump
  • 10 hours IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
  • 3 hours Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 1 day Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 4 hours Water, Trump, and Israel’s National Security
  • 20 hours Impeachment Nonsense
  • 12 hours ‘If it saves a life’: Power cut to 1.5 million Californians
  • 2 days What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 2 days Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
Alt Text

Vanadium Spikes On New Chinese Regulations

A new regulatory measure in…

Alt Text

This Key Battery Metal Is Set To Soar By 250%

Copper prices surged to a…

Alt Text

Investors Return To Plowing Money Into Commodities

Commodities are trending once again…

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