Copper has had a substantial recovery and may be topping as it hits resistance just below $3. I suspect Rio Tinto RIO will follow course and have therefore closed out my position.
RIO was purchased 9/7/2018 ( Bought additional foreign stocks ) and has done extremely well.
Unrelated to Copper, I find it very interesting how far Silver has dropped over the past two weeks. The metal at one point today dropped below $15. If it continues to fall, a price below $14.50 would be an attractive entry point.
As to the Market in general- there is ample resistance at S&P500 2800, so profit taking and volatility are to be expected. But I wouldn’t fret. Valuations are still reasonable and with the 10 Year Treasury yield under 2.7%, I would consider any pullbacks as a buying opportunity.
A pullback will become more likely as the headlines focus on a weak 1Q2019 (transient impact of the government shutdown) and subpar PMI numbers from Asia. Not to worry- China is loosening up on lending standards and cutting taxes.
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