The correlation between the $US and resource stocks doesn’t end in Australia iron ore giant Vale (VALE US) has also moved in sync with the $US implying that the trend should remain intact but another 10% correction isn’t too far away. We are long Vale in our International Portfolio, we are not adverse to taking profit but it feels premature short-term.
MM can see another 10% correction looming on the horizon for Vale (VALE US)
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