anybody out there who trades copper -- I just went short PD at89.33 -- how far is this rally gonna go ?! 95% of the analysts have it at a BUY already --- usually this means that a lot of room for downside surprises
Tell me something . . . Do the equity analysts ALSO have a BUY out on Copper itself? You have to remember that PD is a proxy for copper.
If PD closes above 89.25 today then that will be all time high for it. pervious all time high was 2453 days ago. Does that tell you something?
If you're gonna short PD, I guess it's a good day to enter, copper popping higher and all. But beware, these commodities can have huge runaway price moves, better to be short PD than copper itself but it still can be dangerous call. HG isn't moving so much on sentiment than on actual drawdowns on supplies, so playing contrarian vs sentiment isn't really the issue here.
Closes up over $900.00 for the first time in many many moons. The whole metals group is rocking on demand.
PD trading under $85. Stop hyping things up. What goes up must come down. By the time u report the news to ET.. most of the move is over.
You must be a total moron. Take a look at the thread that I started back on January 31st in the Miscellaneous Futures Forum entitled COPPER. At that point, I pointed out that Copper was hitting a 6.5 year high and trading at $1.14 and that one of the ways for equity traders to play it was to go long PD, which at the time was trading at roughly $73.00 per share. Just 20 trading days later, Copper hit $1.40 per pound in the March contract and Phelps Dodge hit $90.00 GET REAL.
Dude.. u are just reporting news as usual. When the guy said he was short u started to bash him as usual... now u look stupid as it pulled back sharply and put him in profit.