Wednesday, February 15, 2017

The Doctor Is Busy

His phone is ringing off the hook for an appointment. No, this has nothing to do with Obamacare or the ACA. This doctor has his degree in housing, plumbing, electrical wiring and hundreds of other applications. He has been on vacation as demand had been lacking.
came alive around October 25th in 2016, maybe as an early Christmas present. It went from $2.10 a pound to $2.55. This is a huge, huge move. It has formed a classic pole/flag chart pattern. The good doctor filled in the flag section in a $2.45 to $2.65 consolidation range.
New Year
It rang in 2017 with a new pole/flag bullish continuation pattern. The doctor filled the flag from $2.61 to $2.70. Then, with last Friday's close, copper formed yet another continuation bullish pole/flag chart pattern. It sits at $2.77 a pound.
Copper is a global indicator that gets most of its momentum from China and India along with the expectation of Trump's infrastructure package. China is on holiday which should give all of us a chance to make an appointment as in an entry price. 
BHP Billiton's(BHP) flagship copper mine in Chile went on strike, so all the other players are benefiting. In addition, Freeport-McMoRan(FCX) is having trouble in its flagship copper mine in Indonesia. The government won't issue an export permit and this too, is medicine for Dr. Copper.
is a nice cheap, copper stock. Taseko Mines has followed the same pole/flag chart pattern. It could test $2.50 and if volume comes behind it, all the way to $3.50. Smart traders picked it up at .30cents. They have already received 5x their money. Good for them and maybe good for the rest of us. I am making an appointment at $1.23 which is the 200-day average for Taseko. If your cell can't reach him, try a landline. Later.