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Jim Cramer's Stop Trading! Copper Collapse

Stock quotes in this article: GOOG , TOL , CTX , PCU  

Anyone interested in going long copper should save their hard-earned cash and look somewhere else, Jim Cramer said Thursday on CNBC's Stop Trading! segment.

"Copper's a fiasco here," Cramer said. "I don't want anything to do with copper."

The problem, he explained, is one of massive supply and no demand. Homebuilders like Toll Brothers (TOL Quote) and Centex (CTX Quote) have huge inventories, while Chile has ramped up production, leading to an imbalance that will pressure prices, he said. ...

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Dow Jones S&P 500 NASDAQ 10-Year Note
10,344.84 1,095.63 2,144.60 32.01
Oil *
78.55
UP
34.92
UP
4.14
UP
6.16
DOWN
0.30
10 Yr
3.20%
SPDR Gold
115.65
+0.34%
+0.38%
+0.29%
-0.93%
Data delayed 20 minutes

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