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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: XBrit who wrote (51943)	6/1/2006 2:43:26 PM
From: regli	Read Replies (1) \| Respond to of 116555

As you say, I am not that far away from your prediction. I just think that we have pretty much hit bottom here with the PMs. As to copper, I don't agree. Copper inventories are now at approx. two days of world usage and this after an incredible run up in price where likely lots if not most of outside inventory hit the market. I wouldn't be surprised to see it hit new highs in the relatively near term despite a slowing economy simply because inventories are so low. Any labor disruption in Chile or Indonesia could be the trigger. However, as the slowing economy takes hold copper should correct significantly but I would be surprised to see it below $2.50. kitcometals.com