Copper topping…sold RIO

Copper has had a substantial recovery and may be topping as it hits resistance just below $3.  I suspect Rio Tinto RIO will follow course and have therefore closed out my position.

RIO was purchased 9/7/2018 ( Bought additional foreign stocks ) and has done extremely well.

Unrelated to Copper, I find it very interesting how far Silver has dropped over the past two weeks.  The metal at one point today dropped below $15.  If it continues to fall, a price below $14.50 would be an attractive entry point.

As to the Market in general- there is ample resistance at S&P500 2800, so profit taking and volatility are to be expected.  But I wouldn’t fret.  Valuations are still reasonable and with the 10 Year Treasury yield under 2.7%, I would consider any pullbacks as a buying opportunity.

A pullback will become more likely as the headlines focus on a weak 1Q2019 (transient impact of the government shutdown) and subpar PMI numbers from Asia.  Not to worry- China is loosening up on lending standards and cutting taxes.

I continue to put video content up at YOUTUBE, if you’re interested in Opinion Contracts you might find these two videos informative:

——————————————————————————

The Robots are Coming: A Human’s Survival Guide to Profiting in the Age of Automation  available at AMAZON and all fine bookstores.

——————————————————————————

Listen to the Wealthsteading Podcast to receive updated market commentary:

www.wealthsteading.com

The 10 Wealth Building Principles can be heard at:

http://www.wealthsteading.com/category/wealth-building-principle/

Subscribe to the Wealthsteading Podcast:

via iTunes:  https://itunes.apple.com/us/podcast/wealthsteading-podcast/id896417058

YOUTUBE:  www.youtube.com/c/JohnPuglianoWEALTHSTEADING