Fortress commodities view
Despite substantial disruptions in the global supply in copper, we feel that rising inventories in China – in the face of declining demand – do not suggest that the metal should trade 25% – 35% above marginal cost. We believe that downside risk remains.
Goldman Sachs is maintaining their bullish position on gold and copper.
Their copper position is based on continuing supply problems and a relatively bullish outlook for emerging markets (via Goldman Sachs):
The most interesting quote from the first thread was about something else.
From 1990 to 2000, there were 29 days on which at least 400 of the 500 S&P constituents had the same directional move. Since July of this year, there have been 34 such days. This is clearly a new regime of volatility for market participants.
Pretty crazy.
In case all y'all haven't been following the copper story here's a link with some more links to follow.
http://ftalphaville.ft.com/blog/2011/04 ... er-stocks/
newguy
