another cult tragedy, page-31

Gee Im onto it tonight.
Some relevant information.
LME stocks of copper are up, from about two days supply to a bit over three, based on world average consumption of about 50,000 tons a day.

The copper price went up 475% from 2005 and 2007.

Copper is still in a 12 month trend upward, with short term or cycle down. It has fallen about 15-17% from its peak. A lower fall than any other metal in this current reversal. Prices had gone up so hard so fast that some correction is not necessarily bad. It can be a healthy correction in a bull market.
Copper specialist producer shares on the other hand have fallen 47% on weighed average from the peak, the most relative to price fall of any metal.

Freeport McMoran, the worlds largest copper producer, is down one third, from the peak. There are no rational explanations for the discrepancy between the fall in metal and stock prices.
This may suggest some retracement may be imminent, but Compass may at the moment represent possibly the best opportunity in the world to profit (this bloggers opinion only, DYOR) from the next swing up in copper, having dropped 80%, the most of any, as it is not yet in production. These peaks and troughs have been about 3-4 6 months apart in the past few years, so there will not be much waiting to see.
There is a lot of speculation based on changes in LME inventories, but most copper goes direct from producer to user.
One influence looks to be that China has been using up stockpiles for a while. They are probably well down now and will need to begin to be rebuilt before too long. Wild ride.