Tech and Growth Make Me Nervous

By

Jared Dillian

 | Jul 10, 2014 | 12:00 PM EDT
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I have always been scornful when people claim that Alcoa earnings have some kind of predictive power just because the stock ticker is at the beginning of the phone book. But I got an email on that yesterday and, as it turns out, Alcoa (AA) earnings really are a predictor of short-term stock performance, with statistical significance. Who knew?

That's not really what I wanted to talk about, though. I want to talk about base metals in general -- and if you've been following me closely, you know that I got bullish on copper in particular about six months ago. It's taken some time, but the trade is starting to work. There is a lot to know about Freeport McMoRan (FCX), but the short-term catalyst is that the royalty situation surrounding the Grasberg mine in Indonesia seems like it will resolve itself soon. And the catalyst for Alcoa was some months ago with the Ford (F) announcement of the aluminum F-150....370 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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