Use access key #2 to skip to page content.

inthemoneystock (< 20)

Copper Collapse



January 13, 2011 – Comments (2)

This afternoon almost every leading commodity stock or ETF is selling off sharply. Leading copper stocks such as Freeport McMoRan Copper & Gold Inc.(NYSE:FCX), and Southern Copper Corp.(NYSE:SCCO), are declining lower today by more than 2.00 percent. Southern Copper Corp. will have near term intra-day support around the $45.50 area. This is a possible intra-day bounce level that day traders can watch for.


Nicholas Santiago

2 Comments – Post Your Own

#1) On January 13, 2011 at 7:29 PM, ChrisGraley (28.68) wrote:

The government announced that they are placing limits on commodities trading on the institutional investors.

They say they are doing it to decrease speculation, but I think inflation worries are settting in.

Report this comment
#2) On January 14, 2011 at 9:46 AM, Melaschasm (< 20) wrote:

#1)  I think you are right.  A socialistic government's first reaction to inflation is usually some form of price controls.

Report this comment

Featured Broker Partners