Shorting? Exactly!! Imagine if you'd have shorted CLF Monday last week, you'd be ahead 8 points!!
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Coxe pointed out himself how much these have run. My point was that here is not a good entry.
"And Inco is at, at least, a ten year high on my chart. Cleveland Cliffs Iron Ore…all time high. Phelps Dodge, at least a twelve year high."
Who's shorting? You said short, not me. I don't own these shares, but this is a little overbought here. CLF, for one, has really attracted the momo players. The floor might get a little greasy around the exit. All that hair gel flying off as they take off at high speed!
That's my point, so don't be so quick to put me in the shorters box, because I said nothing about shorting and you can believe in a long cycle that will have gut-wrenching intermissions, which is what I believe, for the metals.
<If you think it will be a disaster, have the courage of your convictions and short away!>
If I think it is a disaster S-T, I'll wait to time my entry, thank you very much. As for Coxe, well, we're on the verge of a financial implosion here in the US. Long bond rates jump a couple of more times like they did the past few weeks and it is game over for the US economy. I'll leave it to you to stay long during that phase to find out for yourself if this is really a supercycle, to see if Chinese exports really hold up or not, because we may just be in pre-1930's crash territory.
As for me, I just raised a ton of cash:
Message 21077827
Basically, what Coxe said was "This time it's different"
Really? |
