Friday, July 23, 2010

HAL9000 Starting to Get his Commodity Play On

The move in copper is setting the algorithms on fire... this is becoming clear in the charts as the student body is running to the right... get your resource stock exposure on.  I like Cleveland Cliffs (CLF) here but it reports next week.  Bucyrus (BUCY) just reported last night, I'm torn on this one - chart nice, but a big move already.  Freeport McMoran Copper & Gold (FCX) [hedge fund favorite] just poked its head over the 200 day. I've chosen a handful of names but to HAL one commodity stock is almost the same as any other... almost all are "good" or "bad".  They appear to be good again.  Risk on, risk off.

No positions but mulling

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