Bryan Leighton's Blog Posts Tagged 'SCCO' (41)

Base Metal Stocks Rally On Chinese Stimulus

The base metal stocks are rallying higher on the expectation of a Chinese Stimulus plan. Many of the base metal stocks including BHP Billiton Limited (ADR) (NYSE:BHP), Rio Tinto plc. (ADR) (NYSE:RIO), Cliffs Natural Resources Inc. (NYSE:CLF), and Southern Copper Corp (NYSE:SCCO) could see a potential rally over the next few days. BHP is trading higher by $2.31 to $64.12 a share; look for intra-day resistance around the $64.25, and the $65.05 levels.…

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Added by Bryan Leighton on May 29, 2012 at 10:00am — 1 Comment

Base Metals Catch An Early Bid

This morning, all of the leading base and industrial metal stocks are catching a bid higher. It is important to note that this sector has been very weak since the start of the year. A case can be made that the leading base and industrial metal stocks have been weak since March 2011. One of the leading stocks in the sector is Freeport McMoRan Copper & Gold Inc (NYSE:FCX). This stock is very oversold on the daily chart and is really due for a short term bounce. Today, FCX stock is…

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Added by Bryan Leighton on May 16, 2012 at 10:39am — No Comments

Copper Looks Tarnished

Copper is known to be a leading stock market indicator by many traders and investors. The highly used industrial metal will represent global growth when it trades higher. On the flip side, when copper declines it will usually tell investors that the economy is contracting or slowing down. Copper has lagged the major stock indexes since last year. This morning, the iPath Dow Jones-UBS Copper Subindex Total Return ETN (NYSEARCA:JJC) is trading lower by 0.96 cents to $49.02 a share. Short…

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Added by Bryan Leighton on April 4, 2012 at 11:08am — No Comments

Stocks Retreat As Bernanke Bullets Turn To Rubber

The Bernanke Effect is wearing off. Monday, Federal Reserve Chief Ben Bernanke gave the markets a positive statement towards more quantitative easing. The markets roared sharply higher, making new 52 week highs. However, with the markets trading up 30% since the lows of late 2011 it was short lived. In addition, Ben Bernanke has done his best to use every gun in his arsenal to pump the markets based on nothing but added liquidity and hot air. His bullets no longer have a lasting effect.…

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Added by Bryan Leighton on March 28, 2012 at 1:07pm — No Comments

Base Metal Stocks React Poorly To The Bernake

This morning, all of the leading base metal stocks are fading from their gap higher open. Around 8:00 am EST, the Federal Reserve Chairman Ben Bernanke stated that he would consider more accommodating policies for the U.S. economy in order to stimulate job growth. This statement crushed the U.S. Dollar Index futures (DX-M2) and spiked the stock markets higher. At the start of the day, leading commodity and base metal stocks such as Freeport McMoRan Copper & Gold Inc (NYSE:FCX),…

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Added by Bryan Leighton on March 26, 2012 at 10:24am — No Comments

Base Metal Stocks Slide Without Greece

This morning, all of the leading base metal stocks are declining lower. Normally, the catalyst for the weakness in the base metal stocks is the weak European markets and the problems in Greece. Today, the catalyst for the sell off in the leading base metal and commodity stocks is the weakness in the Chinese growth forecast for 2012. Leading base metal stocks such as Freeport McMoRan Copper & Gold Inc (NYSE:FCX), Southern Copper Corp (NYSE:SCCO), BHP Billiton Ltd (NYSE:BHP), and…

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Added by Bryan Leighton on March 5, 2012 at 10:19am — No Comments

Metal And Mining Stocks Are In Play

The leading base metal and mining stocks all started the day declining at the open. This is common to see when the U.S. Dollar Index is strong before the opening bell. Leading stocks such as Freeport McMoRan Copper & Gold Inc (NYSE:FCX), BHP Billiton Ltd (NYSE:BHP), Southern Copper Corp (NYSE:SCCO), and Vale SA (NYSE:VALE) will usually trade inverse to the U.S. Dollar. These stocks have rebounded off of their morning lows as soon as the U.S. Dollar Index declined. Nearly everyday…

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Added by Bryan Leighton on February 27, 2012 at 10:54am — No Comments

Base Metal Stocks Struggle Early

Many of the leading base metal producing stocks are struggling to catch a bid this morning. Rio Tinto Plc (NYSE:RIO) is a leading stock in the base metals and materials sector that is coming under some early selling pressure. This market leader is declining by $1.31 to $60.22 a share. The decline in this market leader comes despite a strong copper, gold, and silver market today. RIO will have short term intra-day support around the $60.00 and $58.75 levels.



Some…

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Added by Bryan Leighton on February 9, 2012 at 11:23am — No Comments

The U.S. Dollar Index Drives Every Move

Once again, the U.S. Dollar Index futures (DX H2) declined at 9:30am EST to help keep the major stock indexes from declining further. Nearly every trading day that the U.S. Dollar Index starts the day higher; then proceeds to fade once the stock market opens. Traders must remember, if the U.S. Dollar Index rallies higher throughout the trading day the major stock indexes will likely come under some selling pressure. The trading volume is extremely light today as the majority of market…

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Added by Bryan Leighton on February 6, 2012 at 11:15am — No Comments

Copper Finally Pulls Back

Copper has been in rallying mode since December 15, 2011. At that time, the iPath Dow Jones Copper Subindex Total return ETN (NYSEARCA:JJC) was trading as low as $42.64 a share. This morning, the JJC is trading lower by 0.57 cents to $48.56 a share. Short term traders can watch for intra-day support around the $48.40, and $47.85 levels.



Southern Copper Corp (NYSE:SCCO), and Freeport McMoRan Copper & Gold Inc (NYSE:FCX) are also two leading copper producers…

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Added by Bryan Leighton on January 20, 2012 at 10:44am — No Comments

Commodity Stocks Rally, How Much Is Left In The Tank?

All across the media the headline reads that commodities are rallying on Alcoa's bullish forecast. Alcoa reported a loss for the fourth quarter in case people did not see. Rarely, if ever does Alcoa even move the markets these days. More important than the poor Alcoa earnings report was the fact that the Shanghai Index (China) finally caught a bid over the past two trading sessions. That two day rally in China was also good for about 5.0 percent to the upside. This is the catalyst for…

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Added by Bryan Leighton on January 10, 2012 at 4:02pm — No Comments

Deflationary Pressures Are Everywhere This Morning

When the precious metals decline, there is a very good chance that deflation is taking hold. This morning, both gold and silver are declining sharply lower. The SPDR Gold Shares (NYSEARCA:GLD) are trading lower by $4.49 to $161.96 a share. This is a decline of 2.60 percent for the GLD and this signals deflation in the stock market. The iShares Silver Trust (NYSEARCA:SLV) is trading lower by $1.00 to $30.33 a share. The SLV is declining lower by 3.25 percent and this is also signaling…

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Added by Bryan Leighton on December 12, 2011 at 10:34am — No Comments

Commodity Stocks Drop On The Back Of Dollar Strength

This morning, all of the leading commodity stocks are coming under sharp selling pressure. The catalyst for the decline in the commodity sectors and the major stock market indexes is the stronger U.S. Dollar. Today, the U.S. Dollar Index futures (DX Z1) are trading higher by 0.40 cents to $78.95 per contract. To make a long story short, when the dollar rallies higher the major stock and commodity sectors will deflate and trade lower. Every trade is essentially a trade on the U.S.…

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Added by Bryan Leighton on December 8, 2011 at 10:55am — No Comments

Every Trader Should Look At This Chart

The chart below clearly shows how the U.S. Dollar Index impacts the overall stock market indexes. Traders can clearly see when the U.S. Dollar Index futures (DX Z1) decline the S&P 500 Index e-mini futures (ES Z1) will inflate and trade higher. Just look at how the U.S. Dollar Index topped out exactly at 6:40 am EST, this is the exact time that the S&P 500 Index futures made their low.



The news coming out of the European Union is important, however, it is…

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Added by Bryan Leighton on November 15, 2011 at 10:27am — No Comments

Industrial Metals Head South For The Winter

Many traders and investors follow the industrial metals very closely as a leading indicator. The legendary trader Jesse Livermore used to say that copper was one of the most important industrial metals that a trader could track. He said copper would tell the investor where the economy was headed. Today, the leading copper stocks have sold off from the morning gap higher open and this is worth noting.



Freeport McMoRan Copper & Gold Inc (NYSE:FCX) is considered…

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Added by Bryan Leighton on November 10, 2011 at 10:56am — No Comments

There Is Only One Way To Get It Up

This morning, the U.S. Dollar Index futures (DX Z1) are declining ahead of the opening bell. Whenever the U.S. Dollar Index declines the major stock indexes around the world will inflate and trade higher. If and when the U.S. Dollar Index rallies or trades higher the major stock indexes will deflate and trade lower. The bottom line, if this stock market is to trade higher the U.S. Dollar Index must weaken and trade lower. Essentially, every trade is a trade on the U.S. Dollar at this…

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Added by Bryan Leighton on November 8, 2011 at 9:53am — No Comments

Investors Put On Their Bear Costume For The Day

This morning, all of the major stock indexes are trading sharply lower. The problems in the European Union and the possible bankruptcy of MF Global Holdings Ltd (NYSE:MF) seems to be too much for investors. The real catalyst for today's decline is the strength in the U.S. Dollar Index futures (DX Z1), which are trading higher by 0.94 cents to $76.15 per contract. When the U.S. Dollar Index rallies the major stock indexes deflate and trade lower. Since October 4, 2011 the U.S. Dollar…

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Added by Bryan Leighton on October 31, 2011 at 10:17am — No Comments

Metal Stocks Weigh On Markets

The industrial metals are leading the markets lower this afternoon. Leading commodity stocks such as Southern Copper Corp (NYSE:SCCO), Rio Tinto plc (NYSE:RIO), BHP Billiton Ltd (NYSE:BHP), and Vale SA (NYSE:VALE) are declining sharply lower. This industry group has shown weak relative strength when compared to the major stock market indexes. Since the October 4, 2011 stock market low these leading stocks have been unable to trade above their daily chart 50 moving averages, meanwhile,…

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Added by Bryan Leighton on October 17, 2011 at 3:41pm — No Comments

Financial Stocks & Industrial Metal Stocks Trade Lower, Which Is Worse?

This morning, the leading financial stocks and the leading industrial metal stocks are declining. These two sectors have been weak since April 2011. This morning, the financial stocks are trading lower after the financial giant J.P. Morgan Chase & Co (NYSE:JPM) reported earnings. Traders and investors obviously did not really believe the results posted by the company. JPM stock is trading lower by $1.53 to $31.67 a share. Other leading financial stocks such as Morgan Stanley…

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Added by Bryan Leighton on October 13, 2011 at 11:12am — No Comments

Heavy Metal Over Base Metals These Days

As you all know, the major stock indexes have soared over the past week. The Dow Jones Industrial Average (DJIA), the NASDAQ Composite, and the S&P 500 Index have all surged sharply higher recapturing their daily chart 50 moving averages. Whenever an index can recapture an important moving average that is usually a sign of short term strength. Here is the problem with this recent rally if we can find one. The base metals still remain very weak.



Leading base metal stock such as…

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Added by Bryan Leighton on October 12, 2011 at 4:08pm — No Comments

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