Bullishness grows in copper mining sector

BMO senior economist Robert Kavcic put his equity strategist hat on in“Despite Monday’s gain, equity markets have come under pressure after a strong and uninterrupted run since last fall. A couple reasons and takeaways: - Sentiment had become very bullish by historical standards, and implied volatility had almost disappeared. Statistically, that is not a good set-up for near-term performance.

Mr. Crittenden’s bullishness is reflected in the large number of stocks he rates outperform – Arizona Sonoran Copper, Teck Resources, Ivanhoe Mines, First Quantum Minerals, Champion Iron, Capstone Copper, Major Drilling Group International, Filo Corp., Marimaca Copper Corp., Solaris Resources and Capstone Mining Corp.The Morgan Stanley Research department summarized the most recent report from U.S.

“MS Chief US Equity Strategist Mike Wilson is not of the view that the market is in an early cycle environment given: 1) the tightness of the labor market; 2) the underperformance of equal weighted equities; 3) the slow recovery of ISMs ; and 4) the lack of significant accommodation on the monetary policy front. Mike thinks that the underperformance of small caps and low-quality stocks corroborates his view in this respect.

Mr. Wilson’s view is 180 degrees different from strategists like BofA Securities quantitative strategist Savita Subramanian who believes U.S. markets are starting a new sustainable upcycle in economic and corporate profit growth.

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