As a stock Southern Copper has one of the emotionally highest intensity displays of what otherwise should be a very sobering Phd. in economics. This one is particularly interesting to E-wavers simple because of the present CRITICAL position the stock has. Clearly we have waves 1 through 4 done, except that 4 is probably NOT complete. Though only a guideline (all this is empirical ,of course) wave 4 should not overlap wave 1 which would occur if the stock were to trade above $22.50 (about $1.25 away from where we are!).Moreover it is highly unusual that waves 2 ( a zig-zag) should be followed in wave by wave 4 (also a zig-zag, so far!). This is unusual as more often than not the two alternate. ergo I believe wave 4 may just develop into a triangle and what we see so far is only wave a of the triangle. Wave b should drop at least to $12.50 so there are $7 to the downside and $1 to the upside. 7 to 1 is a tradable proposition provided your broker knows how to use stop-loss orders. Options are an alternative. Think of all copper stocks, like TCK.B etc.etc.
By the way, copper , the stuff with the Phd. more or less confirms this view, see below.