RIO - TRADERS THREAD

Kigel

From what I see you've done well so far, so congratulations.

I believe that the miners follow macro-economic factors more closely than specific indices. In that I mean that growth of countries/economies mean that resource prices (metals in this case) will closely linked and affect the share prices of miners.

At this point though I have been told that copper (RIO's main metal) has broken down through support and has a long long way further down to go. This will negatively impact the share price. Of course as a day trader you can make money either way -- so good luck to the longs today.

I also believe that in the short term both the DOW and FTSE are overpriced. I believe a fall will occur but then in the mid part of the year the recovery will lead us higher. The fall will probably take down the miners further.