Jim Letourneau's Blog

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Ace of Base

Phelps Dodge

When it comes to tracking base metals I usually go to Kitco's base metals site. However if I'm in a rush, all I need to do is check the chart of Phelps Dodge. Base metal prices and associated stocks have been continually testing new highs before being beaten back. There has been concerns of a a slowing economy which might decrease demand however the charts still look good. Phelps Dodge is an excellent tell and we should have a clearer picture buy the end of the month.