Thursday, October 27, 2011

Copper Has Largest 5 Day Move Ever At Over 6 Standard Deviations


As if the ES futures were not enough to satisfy the thirst of those seeking incredulities today, Copper - the oft-watched indicator of all that is good in the world for every Keynesian economist - has just smashed all previous records for its largest rise in a week. At over six standard deviations this is the biggest move ever and whether efficient market followers or Trichet stability hypothesis worshipers, this week's rip-fest must surely 'help' all those industrials in the world with their resource planning for the coming year/month/week/hour.
It's also worth noting that since Friday's close COMEX copper is up over 13% also alone.
Chart: Bloomberg
(hattip: Sean Corrigan)

No comments:

Post a Comment