I'm pleased to see copper fox holding steady despite the state of the market today.

The volume is above average and am hoping for another bump up by the end of the week. My spidey sense is tingling and I think something's afoot.

I've heard a lot about China and an economic slowdown. I think it's a bunch of hype to drive down commodities and pick them up on the cheap. I'm not the first person to suggest this and feel it's quite plausible. Even if the Chinese economy slows down a bit they still use massive amounts of copper, and there aren't massive amounts of copper sitting around in the warehouses.

Every once in a while I post the beautiful chart below. I think it's good to point out that the shape of the curve hasn't really changed. Simply put, it illustrates the amount of copper metal that they have in the warehouses of the LME. Copper is holding steady today above $3.92 a pound and based on these considerations, I don't see it going anywhere but up. Any opinions?

http://www.kitcometals.com/charts/copper_historical_large.html#lmestocks_1year

I also like the chart on copper. Looks like a lot of stability in the $3.80 range.

http://www.kitcometals.com/charts/copper_historical_large.html#6months