“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