I been busy with new job, so not much time for hot copper at the moment.
My short position is ok, hedged into new highs on the US indexes, so not much happening. There is low volatility in the US indexes so not much for me to do.
I think no more than another 2 years in this bull market, but it can roll over at any time.
I don't use the fundamentals so much in the US, it is more about when the smart money start decide to liquidate, and they must be looking at the clock now.
The Chinese stock market has remained depressed since the GFC, so I think quite a bit of bad news is already priced in as reflected in the low market PE. There is definitely an issue with real estate over there, but its anyone's guess if it will be a collapse or a slow hiss. I don't like that there is such a divergence between the US indexes and China/Japan. Too much inter-market price distortions likely as a result of the ZIRP.
The only long position I have recently entered is gradual accumulation of small cap gold stocks, the sector has been destroyed, I see some value but there could be more downside if a global bear rears its head. My time frame is 2-3yrs on that one.
