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Market is spooked by worsening China manufacturing data. Copper...

  1. Mossberg
    1,581 Posts.
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    04/01/19
    00:04
    Post #: 37019441
    Market is spooked by worsening China manufacturing data. Copper fell hard today on firm volume. Next support is 18 September low of 5855.

    Crumbling equity markets, tariff uncertainties, China slowdown & deadlock in Washington are all coalescing to create an extremely bad macro enviro for copper.

    Its literally the worst possible time to be facing a cap raise. Dilution at these prices could lock in our losses (we’re at a 52w low so I assume pretty much everyone here is deep in the red?)

    Anyone speak to mgmt recently? @JID I’ve heard people on HC refering to some sort of ‘strategic’ placement. Not sure what this means exactly but it sounds dilutive
    MOD Price at posting: 24.0¢ Sentiment: None Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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