But what about copper ?

Interesting Bull vs. Bear article.
http://www.futuresmag.com/2012/10/1...NL&utm_campaign=FUT_eNL&_LID=103722366&page=3

 

Tank-city for most commodities today....but copper down only 5 cents. Hedgies likely buying into this swoon.

 

6 week lows in copper....but China may be rebounding.

 

New Home Sales Fastest Pace since 2010: No positive effect on Copper.
Ominous.

 

We got burned investing in copper with the best copper trader on earth-- be very cautious!

http://www.marketsurfer.com/?p=773

 

Thanks Surf. No question, this baby could soar once again.
Uncle Benny's helicopter is very powerful.

 

Dec Gold/Silver up today.
Poor copper - flat. It looks very weak.

I've been waiting for a new short entry spot upon any "pop".
Doesn't look like that's gonna happen !

 

Who was that trader Surf ? RK looks like they've done very well.
And thanks for this tid-bit:

No question, this occurred first quarter 2012. But since then, Copper has gone nowhere and now looks to be breaking down...even in light of a strong US housing market.
If $3.28 is taken out, it may even break below $3.00.

 

Been short copper for awhile now, any chance I get to draw downsloping trendline on the highs will sell more. Am sure any new home building will take months to make inventory shrink much.

 

Nice trade Handle ! Futures or Options ?
Copper, up till this week, was painting a bullish cup-with-handle chart pattern. No more.
Unless the helicopter takes off or China starts buying again, this guy is going down even more.