"Everyone has a plan 'till they get punched in the mouth" - Mike Tyson

March 10, 2015

Miner hell

Miners of all shapes and sizes are screwed.  The combo of weak global growth, drek emerging markets, a decaying industry and an insanely strong dollar is killing them off slowly but surely.  The market action is starting to reflect a new leg lower.  

Platinum and Palladium miner Stillwater is breaking a gradual 3 year support.  If it loses that October low 11.80, look out below


Copper is no better apparently as we saw an aggressive put buyer bought ~30K or so May 15 puts for ~.40 cents.  They see FCX below 14.60 in 2 months...YO!  Here's a look at some of the action.


Here's a look at the chart.  Keep in mind these puts are beyond the earnings cycle.


While the immediate term might not be so damning, the picture over the coming weeks and months is looking pretty dire.  Trade 'em smart!

Thanks for reading!

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All ideas shown on this blog represent the authors opinion based on the data available.