Gold, Copper Sending Mixed Messages to Markets
A couple of key commodities seem to be telling different stories about the economy, Cramer said Thursday.
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Both gold and copper are soaring. Typically, gold moves higher only when investors fear some sort of economic turmoil or impending inflation. But when copper, a base material for all kinds of building, rises in price, it usually means economies across the globe are revving up.
So what’s the deal? To find out, Cramer asked technical analyst Tim Collins for his take.
On his resume, Collins lists any number of successes that have helped “Mad Money” viewers, including getting them out of Southwestern Energy before a 15% dip, using the charts to keep them in the high-growth C.A.N.D.I.E.S. and alerting them to the growing commoditization and “ETF-ization,” as Cramer called it, of the bank stocks. For Thursday’s show, he told us why the breakout in copper matters.
Watch the video for Collins’ full report.
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