Uh Oh, Dr. Copper just got Wacked!

[Atlas Shrugged]

I always look at copper as a canary in the coal mine. Dang, 2.5%. Dr. Copper is feeling awfully sick.

Atlas.

[Atlas Shrugged]

Now down 3 percent on the day. CITCM

[Westerner]

Please continue your thoughts...

And any idea why lead is so FLAT when ammo is so bullish?

I'm missing something.

[atlas mike]

good, maybe i can get copper rounds cheaper on the bay.

[NolaM]

Whoops...good catch...off 2.4% for the week.

For anyone who doesn't follow the reference
http://www.cnbc.com/id/44630360

“There is an old saying that every stock bull market has a copper top,” wrote Jeff Hirsch, who runs the Stock Trader’s Almanac newsletter, in prescient note to clients at the start of March. “While not entirely true, as a key industrial material and benchmark of economic growth, copper tops have coincided with stock bull market tops on enough occasions to warrant concern.”

[Westerner]

Whoops...good catch...off 2.4% for the week.

For anyone who doesn't follow the reference
http://www.cnbc.com/id/44630360

“There is an old saying that every stock bull market has a copper top,” wrote Jeff Hirsch, who runs the Stock Trader’s Almanac newsletter, in prescient note to clients at the start of March. “While not entirely true, as a key industrial material and benchmark of economic growth, copper tops have coincided with stock bull market tops on enough occasions to warrant concern.”

Agree. But lead? why is lead dead? When demand is so high?

[atlas mike]

Lead's dead baby, lead's dead.

[Westerner]

Lead's dead baby, lead's dead.

I really like Bruce as a actor. And not being gay, but honest, his nose knows. Err.. I really like his nose.

[Westerner]

" If lead goes down does brass go higher? "

It just doesn't make sense. I have a old post card, early 1900s IIRC it shows a teeter-totter with cartoon figures riding it, and it asks "if board goes higher, does room go lower?"

Related, I don't know.

[NolaM]

Because The JPM subsidiary that owns the Lead warehouses are not using them to backstop their CDS market this week?
Ever since the new ICE clearance rules came down the start of the month,
They have been under scrutiny...IE... they have not figured out a way around the rules yet.
The Chinese have taught them that little trick BTW... which is why they bought the warehouses.
With the new Corzine rules they were rehypothecating the metals on their owner's rollover.
Very nice arbitrage I imagine.