Does this mean that my pennies will be worth something now?
Oh wait, melting this bad voodoo.
I bought Marathon Petroleum some 9 months ago and $28.00 99% sure it had (and oil stocks in general) pretty much bottomed out.
It was a no brainer as I KNEW they would go back up, it was just a matter of time.
Well, my stock topped out yesterday at a bit over $60.
Wish I had bought $100k of it rather than $30k....Oh well, can’t get greedy.
bmp
FYI
Don’t know about copper but I’d bet taxes will double.
Oh joy. Another summer of stories about ravaged air conditioners and other pilfered copper sources.
Just a side note. Anyone that talks about support and resistance is full of crap. This falls under the category, it works until it doesn't, and there always be a time when it doesn't. There are no consistent rules on how, when and where to draw those lines. Everyone does it different. Take a look at the chart in the article. Partially cover the right side of the chart so you don't see the most recent prices. Now draw a resistance line. Yeah, anyone can do it. Now ask yourself the question, how should trade given your line? It is what every magic you see in that bull shit line. Btw, I rely on technical analysis when I trade.
Sorry for the rant. This is just one of pet peeves when it comes to non-traders writing about investing. It is a Wall Street thing to confuse and take advantage of the masses.
In 2002, I drove to Lordsburg, NM to check out a job offer but was shocked when I drove down the main drag. All of the businesses were closed, and Lordsburg appeared to be essentially a ghost town. I later learned that the entire region is dependent on copper, for which the market at the time was bad.
Perhaps Lordsburg will become a boomtown.
More importantly, my wife and I were at the Costco Business Center a couple weeks ago. The price of of Reese’s Big Cup Peanut Butter Cups had gone up over 50%.
Arizona: the Copper State!!!!
https://statesymbolsusa.org/symbol-official-item/arizona/minerals-rocks/copper