The VoSI VooDoo ReportOffbeat Ideas and Commentary from the Depths of Gil's Trading NotesCopper prices have been rising sharply off recent lows. With the Fed cutting 1/2% on Wednesday it signals it is surrending to inflation. This should be constructive for commodities across the board, including copper.
McEwen Mining (MUX) is a hybrid gold/copper producer with a massive new copper mine in development down in Los Azules, Argentina. The stock is currently posting a bottom-fishing pocket pivot at the 50-day moving average which is then used as a tight selling guide. We currently have a position in the stock.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
