Goldtent TA Paradise

COPPER TOP

1. Plunger says:

   September 21, 2021 - 1:44 pm at 1:44 pm

   Copper seasonally turns down in October. Personally I think the commodity top is in.

2. Chartsmaster says:

   September 21, 2021 - 2:38 pm at 2:38 pm

   I believe you are correct in your technical analysis on FCX, Sir FGC and you on your commodity call, Sir Plunger. However, don’t know if you were making a call on actual inflation because that is not over. As long as the FED and the rest of the world’s central bankers, keep creating money, inflation will continue. Maybe not at the same pace and maybe the commodity component corrects as it has in lumber,iron ore and a number of other commodities. Despite what some others say(rather incorrectly) “inflation is always a monetary phenonmenon.”

3. Plunger says:

   September 21, 2021 - 2:58 pm at 2:58 pm

   You know I grew up on this phrase by Friedman “Inflation is always a monetary Phenomenon” as I got a degree in economics in the 1970’s when he was at his zenith. It was such a clean and seemingly refreshing explanation. But over the decades I have to come to learn that the phrase is not all encompassing and it simply is not true. It is much more complex than just “money printing. So many other elements go into the formation and outcome of inflation. Psychology, supply lines, capital bases etc. And when I am using the word inflation I am referring to the price level which is actually not the old definition of inflation.

   But if we do have a serious SM correction (greater than 10%) or bear market it should pull down commodity prices.

   • LibertyPathfinder says:

     September 21, 2021 - 8:45 pm at 8:45 pm

     Where’s the velocity in that?

4. Chartsmaster says:

   September 21, 2021 - 3:10 pm at 3:10 pm

   Totally agree about commodity prices. But if both those occur, a serious stock market correction and lower commodity prices, even oil and foodstuffs, do you think that your personal overall montly bills for energy, food etc. etc will actually fall, even a little bit? I seriously doubt it. The recent high rates of increase might moderate a bit, for a while, but prices to actually live, never come down. The only time that they did was during the great depression before any of us were alive, and that was ONLY because at the time, the dollar was backed by gold.

   • Gold Learner says:

     September 21, 2021 - 3:31 pm at 3:31 pm

     No bills will fall, ever again! Skyrocketing is putting it mildly.

     Why the hyperbole?

     Just two example headlines below, both read today:

     https://thetakeout.com/britain-brexit-soda-co2-shortage-running-out-of-carbon-1847715286
     https://finance.yahoo.com/news/uk-meat-industry-warns-firms-085340754.html

     Everybody knows that the omnipresent inflation is killing retail sales everywhere … so now the media is publishing headlines everywhere, manufacturing the shortages, pun intended, even if there’s no shortage today. If we make people hoard everything now, retail sales will look good for another month or two … wow!

     What was most incredible … I read about the soda shortage in the morning around 10 am, and less than two hours later, the CO2 shortage driven headline morphed towards the meat industry headline!

     This is pure brainwashing, regardless of the inflation.

     GL

5. Silverhawk says:

   September 21, 2021 - 6:49 pm at 6:49 pm

   Been watching those stocks too, Dr Copper says look out below commodities. (At least for the next several months!)