I watch everything. I especially do a lot of intermarket work to tell me the driving forces behind market moves. One of the most important linchpins for the market has been the direction of copper prices. It has been an excellent gauge of what the market thinks and potentially on the economy. It has been a good indicator both up and down. Today, COPPER is on the verge of jumping above important resistance. All other commodities are very strong today. In recent days, the market has held long term moving averages like a trooper, leading to nice upside this week. This move in COPPER may be another piece to the puzzle. Of course, the move must stick. I am just happy to see the move occurring. Could be another notch in the market’s belt.
Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.