all time high in danger today, page-8

Yeah the copper situation is strange and I think the reason we haven't seen it correct more is the fact the US dollar has dropped off a bit, which is making commodities a little cheaper...in particular copper in the U.S. The US dollar is falling on speculation that they are done with interest rates and that there may actually be a reduction in early 07. That bodes well for zinc, nickel and gold but if copper continues to rise that effect will lose out, so keep an spare eye on those copper stocks on Kitco and Shanghai. Shanghai recorded a drop for the last week, which is good and offset a rise on on the LME. http://www.shfe.com.cn/estatements/secondpage.jsp?subjectpid=905&subjectid=9053&startpage=1

Furthermore, if you check a graph for the US dollar back to June when copper was at its low in stocks and price, you can also see that the US dollar has dropped back to what it is almost was back then...so the impact of making commodities cheaper will be short-lived...

But to counter that once again, may be a dumping of the US dollar by the Chinese in favour of gold. They have already announced twice that they were diversifying assets...