Copper Stocks Are Cheap, but That's No Reason to Buy Them: Dan Dicker

Copper prices and mining stocks have fallen steeply, but Real Money Contributor Dan Dicker said that's no reason to buy them. Dicker said it's best to avoid Vale (VALE), BHP Billiton (BHP) and Rio Tinto (RIO), even though the stocks have traded down. Dicker said there's an oversupply in the market, and China's economic slowdown is also a negative for metals. Dicker said in addition, Vale has some legal troubles and he advises investors to stay away from the stock. Dicker said Rio is the best of the bunch, and if you feel like you must own a base metals stock he would chose that one, but he emphasized that right now he is not recommending anything at all in the space.