SOUTHERN COPPER CORP COM SCCO: NYSE

“At the very basic level, a market can only do two things: trend or consolidate. When trending, instead of worrying when the trend will turn/change, go with it. Assume the trend to be intact until proven otherwise. Innocent until proven guilty!”

Cooper prices are decidedly in an uptrend the last 3 months, so are the shares of SCCO.

Short figures are inconclusive

Company                 8/15/17                   7/31/17                   Chg          % Chg      % Float    Days to cover          Avg daily

Southern Copper     5,904,510                6,145,079                -240,569 -3.9          7.2           7                              792,112

 

Five years cooper prices shows a downtrend until around half 2015, then a small consolidation followed by what appears to be the starting of an uptrend.

SCCO is trading at its five year high.

 

Good riddance Irma