Admin

Copper 3.27.10

Copper futures breaking out after a month-long consolidation. I'm long @ 3.43 and will add on a pullback if it tests breakout support.

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  • Admin
    Was stopped out late tonight as copper to a dive below VWAP. Not upset; others may have had their stop much lower but on futures, I've found its easy get plowed over and your stop triggered while price plummets. Whats the old saying? Something a/b falling like a brick? I'm not losing $$ that way. I'll protect any day and miss some profit as opposed to my order being plowed through and taking massive losses. My pocketbook isn't as large as GS. I will re-evaluate tomorrow if I should get back in or not. Right now, I'm counting my profits and booking our next trip to Aruba on this [brief] trade.
  • Admin
    Added more copper @ 3.5520 on the pullback when Obama signed the healthcare bill. Raised stop to just below VWAP [3.5273] If big $ wants to sell on the healthcare issue, I'm taking home my remaining profits.
  • Admin
    Correction. The first sale price was 3.4635 instead of 4.4635. Didn't realize I had typed it wrong earlier. Sold one more this morning @ 3.5495 ahead of the jobs #s. One remains.
  • Admin
    Took off two more contracts this a.m. @ $3.5115 Resistance 2. Rolled up stop to b/e on balance; letting it run on the balance
  • Admin
    Already sold one contract @ resistance 4.4635. If you don't trade futures, you should look into it. Paper trade for a few months and see what you're missing.
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