SCCO, daily
Summary
I am always in favour of the miners, real companies, doing real work, for a commodity the world needs! Yet, commodities peaked in early 2011, and the broader down trend continues.
Copper itself looks very weak, and a break under $3 looks possible later this summer, unless the central banks can somehow get some inflation into the system.
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SCCO is one of the stronger miners out there, yet it remains in a very strong down trend, having fallen from $41 in late January to the low $29s - that's a good 25% !
If the main market rolls over in July - after putting in one final high, then the miners will surely be even lower later this year.
