The old cliche is that Copper is the only metal with a PhD.? “Copper earned its useful nickname “Dr. Copper” over the years due to its ability to forecast the state of the economy and particularly the ebb and flow of the equity markets.”? (From the first hit I found on Google.)

Today it looks like it’s telling us something a bit worrysome…?Copper 7/21

Copper dipped down a full 10% in today’s trading…? right now it’s “only” down 5%.? We’ve seen quite a few volatile days in the silver and gold markets, but those two markets are typically a little more affected by the animal spirits…

I want to see how the day finishes up, but it’s a bit worrysome right now.? It could be the speculative money is bailing out of copper, or a run of stop orders got hit…? or it could be the smart money positioning themselves for a pending economic slowdown.