Network Metals LLC

We can see the copper equity/commodity correlation now starting to separate. Up until now the futures price of copper and the copper equities, i.e. NYSE:FCX, have been tightly linked. However, now the weak fundamentals are kicking in to deflate an over-done copper price, as we have recently been talking about. At the same time, many of the money manager clients we have spoken with over the past two months have been looking to get into the copper story. Therefore we believe that the dips in the copper equities will be shallow and brief - scale down buying of the equities is our suggestion.