Copper Hit An All Time High of $10,000

Floyd was in Ecuador last week on business and pleasure. Internet even at fine hotels was sometimes hard to work with, and little English language based television. The Miami Herald Intl Version was the only U.S. based paper, and abridged

The news of Egypt was not as “large there”.

Every citizen is paid a minimum of $264.00 a month, and to most this is their only income.

From a distance I watched our market struggle at the 12,000 mark, with the very same reasons we’ve struggled in a trade range since hitting market tops.

Bears believe we are at the top for the year. Some believe we have been in a bear market rally since the March 2009 low.

Quantitative easing has occurred twice, yet Europe and other countries have supported it less. This means we may not do it again based on watching the commodity markets generally receding. If you have followed Blue Chip you’ve sold out of your gold and silver holdings long before the drop, and wait now to see if we see another surge. Meanwhile, Copper hit $10,000, and all time record on Friday. Copper looks to a chartist as if it topping, and it is a strong indicator typically of what and when commodities lower.

FEAR and GREED rule the market. We’ve always seen VIX as an excellent strategist for us to show when complacency begins sleeping with greed, and we begin to expect the market to move higher.

From Floyd’s perspectives we may have a few more weeks or months, but will have two corrections, the first minor (11,597 area) with a burst up, followed with what could be a major correction for Obama to deal with just as things get right.

But for the OEX day trader, and the shorter term of our Blue Chip traders we’ve had simply some extraordinary weeks. In our BCO alerts this week we will not only share new recommendations, but also share how we were able to actually short term trade from Ecuador, viewing the market only once a day, and receive 20 to 55% returns on a number of picks.