"When the facts change I change my mind. What do you do, sir?"
J.M Keynes
J.M Keynes
To make this one clear:
1) Large positions taken in copper stocks yesterday.
2) They'll be held as long as copper does not break the long term trend (chart in this previous post)
3) They'll all be bailed if copper breaks the trend to the downside (i.e. below $3.10)
4) Right now copper is holding at U$3.13, having touched $3.16 in early LME trading (and it hurts your quality sleeptime to be online for the London metals open when you live in LatAm).
I firmly believe we are at a bottom for copper and for metals (as outlined in the post yesterday) and put $ where mouth is. However I alo firmly believe that I can be dead wrong about things and I'm not afraid of that. So if that trendline breaks I'm outta here.
UPDATE: A strict technical trader would have sold that downspike to 3.085..i didn't. It was obviously a reachdown spike. The confirmation will make me puke, though.
UPDATE 2: Bot GLD. In for a penny.......
1) Large positions taken in copper stocks yesterday.
2) They'll be held as long as copper does not break the long term trend (chart in this previous post)
3) They'll all be bailed if copper breaks the trend to the downside (i.e. below $3.10)
4) Right now copper is holding at U$3.13, having touched $3.16 in early LME trading (and it hurts your quality sleeptime to be online for the London metals open when you live in LatAm).
I firmly believe we are at a bottom for copper and for metals (as outlined in the post yesterday) and put $ where mouth is. However I alo firmly believe that I can be dead wrong about things and I'm not afraid of that. So if that trendline breaks I'm outta here.
UPDATE: A strict technical trader would have sold that downspike to 3.085..i didn't. It was obviously a reachdown spike. The confirmation will make me puke, though.
UPDATE 2: Bot GLD. In for a penny.......