Category Archives for "global economy"

Copper and Freeport-McMoran

copperIn 2014 Freeport-McMoran Copper & Gold Inc. changed its name to Freeport-McMoran Inc. (FCX). FCX is into copper, gold, molybdenum, cobalt hydroxide, silver as well as and oil and natural gas.

I have seen several articles talking about how FCX has been in sync with oil, but when I look at copper it seems that it is still the best link. The Copper ETN (JJC) started trading in November 2007. Below is a chart showing the weekly data of JJC overlayed with the weekly data of FCX. Continue reading

CAT Hitting a Wall?

CAT hitting the WallCaterpillar(CAT) cut its first quarter revenue and earnings guidance but held to the full year guidance.  I should add, at least for now.  I look at CAT in the brief video below.

As you can see in the chart below, CAT dropped from a closing high of 111.40 in July 2014 to a closing low of 57.91 in January this year. That’s nearly a 50% drop. Continue reading

China Anxiety

China Anxiety

Daily Chart thru Mar. 9

The latest economic news out of China is about imports and exports. The February merchandise trade surplus was $32.6 billion versus an estimate of $48.7 billion.

Lots of Red

Exports tumbled 25.4% from a year ago while imports shrank 13.8%. On a  seasonally adjusted basis, exports shrank 19.9% in February after falling 15.9% in January. The following image comes from an article that further discusses the numbers. Continue reading

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