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AGgressive Metal
Administrator
USA
1937 Posts |
 Posted - 04/10/2009 : 11:59:37
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Copper rose strongly alongside the stock market Thursday to $2.04 and nickel tagged along to $4.88. This is a good sign for base metals and for the economy as a whole, or at least I have read that copper is a good leading indicator. It could be that the metals are just reacting to a stock market bounce that is doomed to retract as more economic problems crop up. Even though China and other developing countries have slowed growth, they are still growing, so I am still optimistic about copper and nickel.
Also, this is not a stock-tip or financial advice of any kind, but Coeur D'Alene Mines (CDE, NYSE) has started silver production in Mexico and estimates 20 million ounces. I bought in at 75 cents and it has risen to $1.10. They also have property in Idaho, Peru, and some other places if I am not mistaken. In the words of one analyst (I forget who), CDE is "not for the weak of heart". In other words, it has been as low as 36 cents and as high as several dollars, so caveat emptor! .
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And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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Copper breaks $2, CDE starts silver mining
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