Metals market: ready to cool off?

On the heels of a mental year in the metals markets, speculation has begun about whether nickel, zinc, etc are due to cool off. to put this in perspective, I asked a good friend who works as the finance bigwig for a steel concern what his take as an individual investor was. As always, he cut right to the heart of it:

I figure it is like everything else. Once it hits the press, the pros are all set in their long positions and postured to pump and dump. They will make money when the schlubs and semi-pros get in...then make more on the short sell. They did it with copper & natural gas in the last year. They are moving through the commodities in the WSJ like locust through a wheat field in August.

Bottom line: don't be a sucker. Don't be trading when other people tell you to. Do your own damn homework.

Sphere: Related Content