- Copper Traders -

Discussion in 'Commodity Futures' started by Trendguy, Jan 6, 2010.

  1. Hey pentothal,
    I misread your last post, I thought you were saying you WOULDN"T be playing the shortside, glad to have short too.

    Are you looking to trade the mini copper?
     
    #71     Feb 25, 2010
  2. Masterchanger, yes I would like to be able to use copper minis as instrument.

    Having said that, I do not trade only one asset, I'm more a "multi asset" trader, with an holding period of 1week-1 month (swing trading).
    I trade equities (indices only) and commodities using ETFs (given capital constraints) and then FX. I have been doing it for years with negative results until I finally manage to put everything I learned together in a strategy that is now working.
    Basically I do something very similar to what Robert Miner describes in his book (High probability trading strategies) but I put more emphasis on Elliott Waves.
    I am now up 27% since Nov 09 which is not a lot but it gives me the confidence to say that I am on the right path.
    What about you?
     
    #72     Feb 27, 2010
  3. To my friend Doji7,

    I just learned of the Chilean earthquake and I hope there is minimal loss of life and property.

    Chile Hit by Magnitude-8.8 Quake; Many Reported Dead (Update1)
    Share Business ExchangeTwitterFacebook| Email | Print | A A A By Mike Millard and Paul Tobin

    Feb. 27 (Bloomberg) -- Tsunami warnings were issued across the Pacific Ocean after an 8.8-magnitude earthquake struck Chile, where President Michele Bachelet declared a “state of catastrophe.”

    The quake was centered 200 miles (317 kilometers) southwest of Santiago near the main winemaking region. At least 78 people have been killed, Bachelet told reporters.

    Tsunami warnings have been issued across the Pacific region, including South America, Australia, New Zealand, Japan, the Philippines, Russia and many islands, including Hawaii where the Pacific Tsunami Warning Centre said “urgent action should be taken to protect lives and property.”

    An evacuation of Easter Island has been ordered due to the tsunami threat, the British Broadcasting Corp. reported, citing Bachelet.

    The temblor struck at 3:34 a.m. offshore from the province of Maule at a depth of 22 miles (35 kilometers), according to the U.S. Geological Survey Web site. In the aftermath of the 90- second quake, the USGS reported 19 aftershocks, of which five measured 6.0 or above.

    “Amid such a major earthquake we can’t rule out that the death toll will rise,” Bachelet told televised news conference. “We will provide information as soon as we have it.”

    Copper Mine

    Power and phone connections were disrupted and Santiago residents waited in the street amid fears of aftershocks, pictures on CNN+ showed. The quake’s focus was 70 miles north of Concepcion, Chile’s second city, close to the vineyards of the Curico valley. While the world’s largest underground copper mine, El Teniente, is 180 miles from the epicenter, most of the country’s copper deposits are at least 500 miles to the north.

    “I’m trying to get in touch with Santiago,” said Gonzalo Cuadra, a London-based executive at Codelco, the world’s biggest copper producer and the owner of El Teniente. “I think in the north there haven’t been problems. We have to see what happened with the mines near Santiago.”

    The El Teniente underground copper mine, which is in central Chile, wasn’t damaged, Carmen Fernandez, head of the national emergency office, said in an interview in Santiago.

    Rio Tinto Group, a shareholder in the world’s largest copper mine, Escondida, located in northern Chile and owned by BHP Billiton Ltd., also had no reports of damage, London-based spokeswoman said Christina Mills said by telephone.

    State of Emergency

    A state of emergency was declared in Maule and the province of BioBio to the south, where Concepcion is located. A third region, Araucania, south of BioBio and the center of the country’s forestry industry, may also be added, Bachelet said.

    Some of the worst damage was around the cities of Talca, Curico and Cauquenes, near the quake’s epicenter, according to ONEMI, the national emergency agency.

    In downtown Santiago, rescue workers pulled a 92-year-old woman out of a home that had been reduced to a pile of rubble, TVN reported. The city’s international airport will be closed for at least 24 hours because of damage, airport chief Eduardo del Canto told the broadcaster. “The terminal is completely inoperable,” he said.

    Sections of the Panamerican Highway south of Santiago were blocked after pedestrian overpasses and a bridge collapsed, according to TVN images. Elsewhere, numerous pedestrian highway overpasses collapsed, Bachelet told reporters.

    ‘Some Damage’

    “This is a major, damaging earthquake,” Randy Baldwin of the USGS told the BBC in an interview. “For any population in the area it would be reasonable to expect some damage.”

    Chile was struck by the most powerful earthquake on record in 1960, when a magnitude 9.5 temblor killed about 1,655 people, according to the USGS Web site. A further 211 people died when associated tsunamis struck Hawaii, Japan and the Philippines.

    Earlier today, a magnitude 7 earthquake hit near Okinawa, Japan, at about 5:31 a.m. local time, the USGS said.

    Last month, Haiti was struck by a magnitude 7 quake. The death toll may reach 300,000, President Rene Preval said Feb. 21. More than 1 million people were left homeless.
     
    #73     Feb 27, 2010
  4. oh man ouch, 11 point gap up, stopped out.

    Cya maybe next week boys and girls.
     
    #74     Feb 28, 2010
  5. Doji7

    Doji7

    Thank you for your words Mastercharger

    Sad to say,
    was a huge earthquake, i think was my end.....

    Underground sound was horrible. Almost 2 feet powerfull movement from west (Pacific ocean ) to east (Andes mountains) and viceversa.

    But , this is a MAJOR damage to our economy,
    many highways are interrupted in several points, a lot of highway bridges are broken
    Social explosions were contained by army...........
    Gas and water scarce in some regions

    I hope this situation could deserve in 15 days

    El Teniente , Codelco main copper company is located in eartqwake area
     
    #75     Mar 1, 2010
  6. Pocus

    Pocus

    Masterchagner, very interesting (and successful) trades you did in February, are you still around or already spending your profits in the Caribbean?

    I am also trading HG a bit but on a slightly longer time horizon (couple of days if not stopped out!). Currently I am looking to re-enter a short position, maybe around 340 with target 332 and stop 344. Still need to work out exact levels and wait for the right momentum.
     
    #76     Mar 23, 2010
  7. Yes, I'm still around,

    My first attempt at swing trading copper and attempting to hold over the weekend, ran into the unfortunate occurrence of the Chilean earthquake! That was an excellent lesson in not overleveraging. (Fotunately, I didn't overleverage!). I recovered quickly still following HG.

    I really enjoy trading HG, although not much discussion on copper despite posting alot of trades, so just decided to give posting a rest.

    Interesting that others even PM'd me and asked me not to post my trades because they thought I was giving too much away. LOL
    oh well,
    good trading to you!


    Doji7, how are you doing?
     
    #77     Mar 23, 2010
  8. Doji7

    Doji7

    [/quote]
    Doji7, how are you doing?[/quote]


    Thanks Mastertrader,

    I'm still full occupied repairing some properties little damaged.
    People return slowly to normal bussines activities. Local economy is recovering

    Small coast towns and main chilean military port were destroyed by the tsunami
     
    #78     Apr 6, 2010
  9. REDMETAL

    REDMETAL

    Anyone get involved with Copper spot buying?
     
    #79     Apr 7, 2010
  10. Pocus

    Pocus

    ...and store it in your flat? Why would you want that?
     
    #80     Apr 7, 2010