Drilling Down on Industrial Metals
Coal and the industrial metals have run in place since the end of March, trying to recover after a steep first-quarter slide. This effort has reached a major inflection point, with sector instruments testing boundaries that will determine their fates from now into the fourth quarter. Rather than make predictions that fail to pay off, it's a perfect time to pull up a chair and watch this final battle unfold.
Copper is the primary antagonist in this passion play, with the contract breaking three-month support between $3.70 and $3.75 earlier this month and dropping to a three-month low. It's failed to remount that level in the last two weeks, and is unlikely to do so until China reports stronger manufacturing data -- unlikely, given that country's dependence on shrinking European demand....612 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.
