Blow Off Top In The Metals?

Traders are speculating that the metals had a blow off top, and that's the reason for the sharp move down today. If you believe this, you could profit from this, by shorting some of the metal stocks, or metal ETF's. Freeport-McMoRan Copper & Gold Inc.

is one name that stands out, as it has run quite a bit recently, and could be due for a sharp correction. It is also heavily correlated to copper, and any further downturn in copper would lead to a drop in FCX shares. Another name that comes in to mind is Barrick Gold

, which is the lowest cost producer of gold, and is heavily correlated to the spot price of gold. Everyone and their brother have been calling for gold to continue to climb, but if you are a contrarian, and believe gold is ripe here for a correction, then shorting ABX or any of the gold names would be a potentially profitable trade for you.