Monday, August 3, 2009
Doc Copper Surges in the Last Few Trading Days
Copper has surged the last few days and this signals the world economy is back to growing. Its surged from $2.46 to close around $2.74 today. Copper has long been designated as the Doctor of the commodity world as its products are used so much in the construction space for basics such has housing and autos. Copper also is so dramatically controlled by China and the emerging markets since they have a larger need for the basics such as housing. While oil is still controlled by the US and the developed world because its use is based on the amount of commerce and vehicles owned as opposes to sold.
Freeport-McMoran (FCX) and Sterlite Industires (SLT) are two of the best copper plays right now. FCX is the best all around play and SLT is a great domestic play in India.