Friday, August 27, 2010

So what did we predict for copper this week?

Otto has a good hair day

IKN68 broke with tradition last week and made a short-term call on copper. Here's what it said:

A call on copper for next week

Your author puts on his soothsayer’s hat, stares into the requisit crystal ball and predicts the following.

1) Early next week the market sinks on really bad housing sales numbers out of the USA (existing homes sales reported Tuesday, new home sales reported Wednesday). Copper feels the effects and drops some.

2) Copper rebounds later week as people begin to realize (because they just keep fogetting this one) that China is the important Cu driver these days, not the USA

3) Copper finishes unchanged on the week.

4) Lady Gaga gets engaged to that Beck guy, the one with the buzzcut on Fox who cries a lot.

Ok ok, I made that last one up. But as for the rest, what could possibly go wrong?

So how have we got on?
Call 4) hasn't worked out so far, either.

By the way, I apologize to those subscribers that have received a copy of IKN68 once a day all week. Being away roadtrippin' has made it tough to get to the root of the problem and I'm checking things out now. It seems that Google Mail has got itself into some sort of weird feedback loop and is auto-sending the darned thing every day. Trying my best to sort it out now, kind and patient subscribing people.