While gold is attempting to recover from its double digit percentage point crash on Monday, copper is having an even more difficult time as traders continue to sell the metal. The price of copper fell -1.1% this morning to $3.08/lb and is heading lower. Prices on the London Metals Exchange (LME) have fallen considerably since January as outlined in the chart below. With copper hitting a new six month low, we have no problem shorting stocks that have large exposure to the metal like Freeport-McMoRan Copper & Gold (FCX).
