Efficient Market
You know it's a bull market when a little distribution occurs Thursday and Friday gets slammed, Monday shows more downside follow through and on Tuesday, just like that, the rally is back in place and the market is 1/4% - 1% from fresh highs.
Copper prices have acted more poorly than gold prices yet Southern Copper (PCU) keeps flying. Is the answer that PCU has done an amazing job of cutting costs and maximizing profits even as spot prices decline? Or is a stronger economy around the corner? If so, why aren't spot prices rising along with US Govt bond yields? I'm going with the story bond yields are telling, at least for now.
What will Wednesday bring?
Copper prices have acted more poorly than gold prices yet Southern Copper (PCU) keeps flying. Is the answer that PCU has done an amazing job of cutting costs and maximizing profits even as spot prices decline? Or is a stronger economy around the corner? If so, why aren't spot prices rising along with US Govt bond yields? I'm going with the story bond yields are telling, at least for now.
What will Wednesday bring?
posted by David Geller at 2:56 PM
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