Discussion in 'Commodity Futures' started by GlobalFinancier, Mar 18, 2006.
Copper is bullish.
Copper has got to go down. I will die if it doesn't. Plus there's no reason for it to be so high. My dad told me that.
The market IS the reason... fundamentals are lagging indicators.
Thats it I'm melting down my copper rainspouts and gutters and dumping it on the market
Minting a penny now costs the US govt 1.4 cents .
I expect continued gains, $300 has been broken through.
I feel a climax may be here, USD is strengthening, gold is topping for the short term.
Thus, copper is a SELL now.(360-230=130/230=50%+).
I am ready to go short...
It's testing the lines of support, I see a sharp fall coming soon...
Remember, copper is a good leading indicator of the US economy...
the question is where are we in this inflationary cycle noone knows so it seems to be a temp top in place,sure its retracing but i think hg is showing some supportive signs relative to other metals,where silver/paladium and to a lesser degree gold have given back a lot of the gains made since march hg and platinum have held up ok it says to me they want to go higher but are being dragged lower in sympathy with the rest of the complex
Perhaps. In February however, commercials were net long and increased positions/open interest.
Now, commitment of traders show decreasing open interest albeit commercials still net long.
Copper stocks like PD show an H&S..
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