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  • Base Metal Stocks Struggle Early 0 comments
    Feb 9, 2012 11:23 AM | about stocks: RIO, SCCO, BHP, CLF, VALE

    Many of the leading base metal producing stocks are struggling to catch a bid this morning. Rio Tinto Plc (NYSE:RIO) is a leading stock in the base metals and materials sector that is coming under some early selling pressure. This market leader is declining by $1.31 to $60.22 a share. The decline in this market leader comes despite a strong copper, gold, and silver market today. RIO will have short term intra-day support around the $60.00 and $58.75 levels.

    Some other leading base metal stocks that are declining lower this morning include BHP Billiton Ltd (NYSE:BHP), Vale S A (NYSE:VALE), and Southern Copper Corp (NYSE:SCCO). Traders should watch the U.S. Dollar Index closely as these stock will usually catch a bid when the U.S. Dollar declines.

    Nicholas Santiago

    Stocks: RIO, SCCO, BHP, CLF, VALE
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