island bear

What Copper's Breakout Means

@chap08
Your point is correct.

Long positions in metals in weak currencies (i.e. U.S. Dollars) has been a nice trade over the previous months, but justifying macroeconomic trends seems a bit foolish. Copper's ability to forecast future economic activity may be evident historically but we are currently undergoing a shift in economic trends and relationships. Don't forget about all the Quant Ph.D's that got smoked in the last few years.... I bet they are reevaluating there "forecasting" abilities.

Visa: Bullish Bets Leading into Earnings

Or they could have been short the stock... be careful with assumptions.