Copper at 6 years lows

Discussion in 'Commodities Forum' started by Onionman, Jul 27, 2015.

  1. Hyperion

    Hyperion Well-Known Member

    Joined:
    Aug 2015
    Posts:
    49
    Likes Received:
    0
    It seems like there is only a dozen or so people that post on this forum. You all definitely seem knowledgeable, but it is a little odd. My brother works in the oil industry, and was warning this could happen for a long time. Commodities seem like the biggest of all roller-coaster markets (besides Penny Stocks), and I have heard more than one person tell me they have lost money on oil this year.
    I remember the copper stealing stories from the last several years. Reminded me of Bubbles from, "The Wire", who could never get the price he wanted because the buyers always knew it was stolen.
     
    Last edited: Aug 30, 2015
  2. baudwalk

    baudwalk Senior Investor

    Joined:
    May 2015
    Posts:
    1,459
    Likes Received:
    13
    Interested in copper? Did you notice that activist investor Carl Icahn just took a >8% stake in $FCX, announced after Thursday's market close? The stock touched ~$60 in 2008 and 2011, now ~$10. Friday's share price jumped 17% on the news. If Icahn's plans execute, one may get a bump out out of this. I haven't seen yet seen a timetable for the divestitures, but they make take a while.

    http://247wallst.com/commodities-metals/2015/08/28/what-carl-icahn-wants-from-freeport-mcmoran/
     
    Last edited by a moderator: Jul 8, 2016
  3. JR Ewing

    JR Ewing Super Moderator Staff Member

    Joined:
    Feb 2014
    Posts:
    4,950
    Likes Received:
    39
    I bought a little FCX today. I also bought into the 2 coal companies Soros bought into a couple of weeks ago.
     
    Last edited by a moderator: Jul 8, 2016
  4. Nox

    Nox Guest

    Joined:
    Aug 2015
    Posts:
    65
    Likes Received:
    1
    Copper certainly looks to be trading at relatively low prices, if this avenue you would like to explore, now would be a good time to enter the market (with a long run view). I'm not too sure if copper would be my choice investment, I would perhaps hold a small position in the commodity just to see where prices go. I'm also slightly concerned about where the Chinese economy is going at the moment and they're a big player in the copper market. Of course the uses of copper are widespread and should continue to grow, so in terms of the potential upside, demand from that point of view should increase. However with a roughly $2.20 52-week low and approximately $3.20 high, the margins are fairly small.
     

Share This Page