Another way to play the commodity breakout with a copper stock forming a 'bull flag' chart pattern

There's been heavy focus on the breakout in gold above the four-year resistance level of $2,100. Many are attributing the move to persistent inflationary pressures driven by a defensive, risk-off tone. This may be partially accurate, but I think there's more to the story. If you look at the other metals like copper and steel and their associated stocks you'll see breakouts as well, and in fact, they are showing more strength than gold stocks.

has been far outpacing the gains in GDX. is an $88 billion market cap company yielding 2.77% based in Arizona trading 32 times next year's expected earnings. That's not exactly cheap, but with the forecasted global demand of copper we think that multiple is justified. We currently hold a 2% allocation in

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