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With earnings season in full swing, there’s no such thing as a dull afternoon.
We begin with Apple, which dipped a little due to soft China sales, but as of this composition is zipping to lifetime highs. I guess the conference call is going well.
It has been said many times over decades that copper is an excellent canary in the proverbial coal mine for judging where the economy is heading. May I direct your attention Freeport McMoRan (or fREEPORT mCmOrAN if you like) symbol FCX. Looks like doom to me!
A tip o’ the law to our mutual friend The Director who sent me this interesting chart this morning illustrating just how deeply dependent “investors” are that stocks move higher from here in order to make all their margin debt worthwhile.
