Use access key #2 to skip to page content.

inthemoneystock (< 20)

Industrial Metals Shine Like Gold

Recs

0

October 06, 2011 – Comments (0) | RELATED TICKERS: FCX , SCCO , BHP

The industrial metals are continuing to rebound higher today. This is a three day bounce for the metals. Leading industrial metal stocks such as Freeport McMoRan Copper & Gold Inc (NYSE:FCX), Southern Copper Corp (NYSE:SCCO), BHP Billiton Ltd (NYSE:BHP), and Rio Tinto Plc (NYSE:RIO) are all climbing higher this morning. These stocks were severely oversold and due for a solid bounce. It is important to remember that it has been the industrial metals that have lead the stock and commodities markets higher since March 2009. This year the industrial metal stocks began to lag the major stock indexes around April 2011, therefore, that tells us the industrial metals lead the major stock indexes.

The catalyst for the rally in the leading commodity stocks come as U.S. Dollar Index sells off from its recent highs. Since October 4, 2011 the U.S. Dollar Index futures (DX Z1) has declined lower by $1.26 to $79.10 per contract. Most leading commodity stocks will inflate and trade higher on any U.S. Dollar weakness. Traders and investors should continue to monitor the U.S. Dollar Index closely, as long as the dollar drops the industrial metals should continue to rally higher.

Nicholas Santiago
InTheMoneyStocks.com


0 Comments – Post Your Own

Featured Broker Partners


Advertisement