InTheMoneyStocks Pro Traders Market Analysis

[ITMS]

Base Metal Stocks React Poorly To The Bernake


This morning, all of the leading base metal stocks are fading from their gap higher open. Around 8:00 am EST, the Federal Reserve Chairman Ben Bernanke stated that he would consider more accommodating policies for the U.S. economy in order to stimulate job growth. This statement crushed the U.S. Dollar Index futures (DX-M2) and spiked the stock markets higher. At the start of the day, leading commodity and base metal stocks such as Freeport McMoRan Copper & Gold Inc (NYSE:FCX), Southern Copper Corp (NYSE:SCCO), and Cliffs Natural Resources Inc (NYSE:CLF) where sharply higher. These stocks and others have now faded from their high made at the open. Should these leading stocks go negative it will be a negative sign for the major stock market indexes. ...Continue reading here: http://bit.ly/GRMl5H