If there is a good rally in copper on Thursday, that would hint that price action Tuesday put in a near-term market bottom.
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Well, if you want to invest in copper, a good choice is Freeport-McMoRan (NYSE:FCX) as well as the Global X Copper Miners ETF (NYSE:COPX).
The company has no good idea what the price of copper will be in 20 years, nor is it certain what is the probability of different possible prices.
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In this invisible world, tiny particles of gold melt at temperatures several hundred degrees lower than a large nugget, and copper, which is normally a good conductor of electricity, can become resistant in thin layers in the presence of a magnetic field.
The steep increase in copper prices since then has proved that the bet was a good one.
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Last year was a good one for metal thievery (in Germany and beyond) because the copper price was so high.
Efficient makes modems used to transmit digital subscriber line (DSL) signals over copper telephone wires, and the DSL market isn't looking good these days.
Good buying interest on Friday would begin to suggest a market low is in place in copper.
And by tearing out the copper lines in a Fios neighborhood, Verizon's locked up the customer for good.
"We've seen reports of people who have not had a previous interest in copper--the military, utilities--saying, 'This looks like a good opportunity, let's buy some, '" says Jon Barnes of CRU Analysis.
The building's majestic copper dome, he noted, had originally been made out of tile and apparently not very good tile, at that.
That may be a good thing: the mine typically accounts for one-sixth of Mongolia's tax revenues, and fluctuations in copper prices deliver devastating shocks to the economy.
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