Believe it or not, there are contrarian opinions. You have one geo saying this will never be economic (and we question if he's ever read a report on cuu) and one analyst saying the FS won't move us because of Teck. One of my guys saying we are in it to the end and that Teck is willing to sell its interest in Galore to focus on SC to makes buying the iron producer easier. Then there's what Elmer told me. But through a lot of this there is the common thread of What Teck Will Do. Those who argue that we should try seeing this through Teck's eyes are probably right. CUU will be a low cost copper producer. Yes Teck wants iron but with Chinese purses that doesn't mean they take a pass on iron or anything else for that matter. In my own circle there is a conservative trend. The buying back is much slower than I expected but is tempered by the main markets. Hopefully, the markets will react positive on Monday and we can finally see steady green.

The really defensive in my camp say this isn't going to happen and point to the bond managers as proof. Once again, does the market continue to wait for printing? If so, how long? And, do they turtle right after a QE and then wait for more in a never ending cycle? Some people think this is how it will go as all profit is private and all risk is public. They believe this is the tool that will be used to take complete control of the government coffers (Our money). If any part of this is true then we are still on the right side of the fence.