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camarodan64 (95.18)

Canadian news reporter says copper is in over supply

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November 02, 2013 – Comments (4) | RELATED TICKERS: FCX

well shes right, but she failed to note copper supplies drop over 200,000 tonnes in the last 2 months so we can see that a bottom in copper will be made  soon depending on how many Canadians believe what the reporter said about the copper supplies which will be 99 percent.   Copper will bottom out at $2.60 at the lowest in the upcoming fear based copper sell off sparked by Canada, copper stocks will drop quickly at the low price setting up the copper reversal because copper stockspiles will drop back to pre 2009 levels. Buy copper under $2.90 if it goes there because if it does it wont be for long as a new bull market breaks out once again.  

 see the facts below....check the link for copper chart and history.

http://www.kitcometals.com/charts/copper_historical.html

4 Comments – Post Your Own

#1) On November 02, 2013 at 8:41 PM, awallejr (77.17) wrote:

Aside from any TA argument, what is your thesis for a new bull market in copper?

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#2) On November 04, 2013 at 5:05 PM, camarodan64 (95.18) wrote:

 "Aside from any TA argument, what is your thesis for a new bull market in copper?"

 awallejr   hi.

475,000 tonnes  copper now at the lme down from  680,000 tonnes in June 2013 as the price remains at $3.29 or lower the copper stockpiles will decrease rapidly ,once the stockpile sits at 250,,000 tonnes the new copper bull market starts, new copper mine starts has decreased so new supply will also decrease in the future, copper ETF's will buy again increasing demand  ,the world is now allowed to grow for the next 3 years as there is enough commodities to do so and the big driver and debuffer will be solar power, solar power will add demand to copper aswell , copper buy window is happening now but could drop 1 day to $2.70 or so maybe not if it does buy in forsure because as i said above copper stocks will fall rapidly at low prices setting up the new price point of the next bull market in copper.   watch nickle to rise above $8 and stay there to confirm an all out big rally(2-3 years).

 

nickle stockpiles remain super  over supplied atm. 

 

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#3) On November 13, 2013 at 1:09 PM, camarodan64 (95.18) wrote:

copper down .07 today to 3.16 copper stockpiles continue to fall

 http://www.kitcometals.com/charts/nickel_historical.html

 nickel up .05

nickel stock piles could be plateauing here. 

 http://www.kitcometals.com/charts/nickel_historical.html

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#4) On January 12, 2014 at 11:39 AM, camarodan64 (95.18) wrote:

 copper stockpiles continue to fall, copper now at $3.32

http://www.kitconet.com/charts/metals/base/lme-warehouse-copper-1y-Large.gif

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