COOLING COPPERCOOLING COPPERCopper prices have soared 90% in 2009, as the metal benefited from massive stockpiling stock·pile n. A supply stored for future use, usually carefully accrued and maintained. tr.v. stock·piled, stock·pil·ing, stock·piles To accumulate and maintain a supply of for future use. by China and a recovering global economy. But the hot streak may be ending, says Bay Crest Partners' Blaze BLAZE - A single assignment language for parallel processing. ["The BLAZE Language: A Parallel Language for Scientific Programming", P. Mehrotra <mehrotra@csrd.uiuc.edu> et al, J Parallel Comp 5(3):339-361 (Nov 1987)]. Tankersley. Chinese imports are down 42% from their June high, and copper inventories jumped 15% in September, the third month of increases. Copper prices have historically depended on construction to spur demand, but a new building boom is unlikely to emerge soon. "I find the prices almost fundamentally insulting in·sult v. in·sult·ed, in·sult·ing, in·sults v.tr. 1. a. To treat with gross insensitivity, insolence, or contemptuous rudeness. See Synonyms at offend. b. ," says Tankersley. He recommends selling copper futures at $275 to $282 a pound--they closed at $272.90 on Sept. 29--and believes they could trade as low as $200 by the end of March 2010. (He made a similar call in August 2008, when he correctly said copper would fall from $300 to $150.) Investors could also short the iPath Dow (Direct OverWrite) See magneto-optic disk. Jone-UBS Copper SubIndex Subindex A group of securities that is part of an index but is also tracked separately as a smaller, separate index. Notes: A software index, for example, would be a sub-index of a computer index. Total Return exchange-traded note at around 37.70, he says, just above its Sept. 29 close of 37.49. 
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion