FTSE 100 Mining Stocks

[daytradingUK]

Today the mining stocks had an insanely successful day (taking me from a healthy profit in a short to a nasty surprise by 9am). I was wondering if anyone believes stocks such as XTA, AAL and VED will see sustained growth in the coming months, or like me have an eye on them for a large drop in 2007 if copper and other metals fall as predicted by Numis Securities.

Personally I am tending towards a drop in their prices as Merryl Lynch and several other brokerages downgraded them and the amount the stocks have been able to drop in a single session is staggering.
However XTA managed an impressive 6% peak today on the back of Morgan Stanley's recommendation and so there is deffinite interest in these by big players.

Does anyone have anymore thoughts on where they are going?

 

[techst]

I don't have thoughts on where they're going in the long term. I think the miners have been going through some large accumulation/distribution phases. When your look at a Weekly chart you see a lot of sideways action. Especially AAL, BLT,RIO. XTA has been technically strong as has ANTO over the last couple of months. I'm always watching the miners, they're great to trade, nice big channels to catch swings and they really move some.

Trying to catch the start of a Bear market is tough work, and not my game. The bull markets still intact so i tend to go with the trend. I think we could see a bear market in the miners and the rest of the market of course. I tend not to make any growth predictions or long term opinions of the markets. I trade short term so I find the miners great for trading. The mining sector is volatile they all have very high Betas, VED has the highest Beta in the FTSE350. Even if I believe we 'SHOULD be in a bear market!' I'll still trade any Long setup no matter what my opinion on the a market is. Trade what you see, not your opinion...