After reaching one month highs on Monday, copper futures prices have tumbled to near 3-week lows amid slowing China credit impulse-driven economic signals (PMIs weak) and a surge in LME stockpiles.
And the market reacted...
Authored by ConvergEx's Nicholas Colas,
After somewhat surprsingly surging to its highest levels since Dec 2014 in March (4 sigma beat), April ADP tumbled to 177k (and March was revised lower from 263k to 255k). This is the lowest growth in jobs since October 2016 - pre-Trump - with service-producing jobs gaining dramaticaly more than goods-producing (165k vs 12k).
The collapse in both ISM's Manufacturing and Services Employment sub-indices suggested notable downside for jobs in April and sure enough the ADP print corrected and was revised lower...
Silver Bullion On Sale After 10.6% Fall In Two Weeks
- Silver down for eleven consecutive days to $16.80/oz- Further weakness possible and support at $15.73/oz- Never catch a falling knife - dollar cost average- Silver buyers love manipulative futures selling- Thank you 'Gold and Silver Cartel' !
Silver in USD (1 Year)
Hitchhiker: You heard of this thing, the 8-Minute Abs?Ted: Yeah, sure, 8-Minute Abs. Yeah, the excercise video.Hitchhiker: Yeah, this is going to blow that right out of the water. Listen to this: 7... Minute... Abs.
Just like the infamous 7 Minute Abs scene from Something about Mary, many had wondered for years why there is no ETF that allows retail investors to lose money even faster than with the existing inventory of various triple-leveraged passive investing offering.