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No. of Recommendations: 2
Right, there can often be very close correlation between JJC and COPX but when you open it up to a 2- and 3-yr comp, you'll see that the miners dropped badly and then jumped up fast, perhaps too fast? (JJC is a relatively new, unpopular product and you are correct, again, that it is not very liquid.) In that regard, you are right that the equities are up substantially and the train has probably left the station and it may not be worth trying to catch up. :) But from what I can see in terms of supply constraints, demand forecast and the likes of GS and other big players all of a sudden liking commodities again, I think there is plenty left there. Relatively soon, I expect a move beyond $5/lb and expect silver to move beyond $30/ozt. I personally do not like ETN's, ETF's etc for commodities unless it's for a short-term trade as opposed to a long-term hold so it gets quite challenging with most commodities for me thus I stay away from, again, most of them. But as I've mentioned previously... I really don't have -- or choose not to have? -- much time and capital to trade at the moment so it's an even easier decision for me. :) Regardless, analyzing them is critical and understanding what's going on in this world is as important as the world of capital markets.
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