Friday, February 5, 2010
I think about a certain blogger who rationalized the rising copper price against rising warehouse inventory by publicly writing that it was "smart money" stockpiling for future inflation. Can you say topping indicator? I think about how junk like this gets put out in the public sphere for innocents to digest.
I think about scores of Chinese retail buying and hording the stuff. You know, the Chinese people who have only recently had access to financial markets and who could be considered the most naive of the naive?
I think about how Prechter gets to be right once in a while.