| Copper Approaches the Buy Zone |
 | | By Murray Dawes | | Editor, Retirement Trader and Fat Tail Microcaps |
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Dear Reader, The last week saw another round of selling in US mega-cap tech stocks and some buying in smaller companies in the US. But the great rotation isn’t yet filtering through to Australian small and microcap stocks. The Aussie market is heavily weighted towards resource companies in the smaller end of the market and commodities have turned down sharply over the last couple of months. Copper made the news a few months ago as it spiked from US$4.00/lb to over US$5.00/lb in April and May, setting a new all-time high in the process. But fast forward to today and it has collapsed back to US$4.13/lb. What gives? Is it all over for the hyped ‘copper will go through the roof’ story we have all been reading about for years? Or is this correction setting itself up as the trade of the decade for the prepared investor? Personally, I think it is the latter due to the long-term uptrend in copper that has been in place since 2016. Continue Reading... Regards,
Murray Dawes,
Editor, Retirement Trader and Fat Tail Microcaps All advice is general advice and has not taken into account your personal circumstances. Please seek independent financial advice regarding your own situation, or if in doubt about the suitability of an investment. |
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