But what about copper ?

Lately, it's been a good short-term play as well.
What's your view long term ?
Will 3.40 hold ?

 

How do you expose yourself long and what is long term

 

He's likely long/short the futures contract and as he mentioned, he'll offset that position with a corresponding long put and/or short call if he is long futures or the reverse if he is short the futures.

 

Copper up 4 cents today....basis Dec 2012. This guy continues to run with the US Equities markets !!
Crazy.

 

Ah, the Obama win now makes this a tougher trade.
And a lower US dollar won't help the shorts.
Still, if US Equities tank from the fiscal cliff, this guy is going lower...maybe below $3.00.

 

And there it goes.....down 4 cents already.

 

Despite incredible downward pressure, Copper held $3.44 today quite admirably. Up nearly 2 cents in Globex trading right now.
$3.40 is the big one....

 

All metals fairly strong today. Dec Copper up nearly 3 cents even as equities are continuing downward. This is the first "breakaway from equities" for copper in quite some time.
Likely some short covering happening here.

 

Copper the weak player today compared to Silver and Gold.

 

Dec contract: 3.44 close.
4 cents away from key support level.
Anyone buying down here ?