But what about copper ?

[syswizard]

Looks like some short covering recently......Hmmmm. If it breaks out above $3.20, I'd be really surprised.

 

[syswizard]

September is now the front month....and wow, what a rally today !!
This should be the upper end of the trading range.

 

[syswizard]

Have not posted in a while. What's this ? Sept Copper at $3.27 even after weak China exports being reported ?
Could it be that copper is hanging onto the coattails of gold ?
Exactly.
And why is gold going up ? No reason other than for potential conflict overseas that may never materialize.
I think all metals are a short play now.
Steel is already in the crapper.

 

[syswizard]

Nice breakdown in Copper today.

Reason ?
Dunno....China data was not that bad.

 

[syswizard]

More weakness today....indicating the latest rally was totally SHORT COVERING.

 

[clacy]

Still range bound it appears. Reversion trades have been working well recently for me in Copper (using spreads).

 

[Handle123]

Am thinking new lows soon

 

[syswizard]

Am thinking new lows soon

Nice call Handle !! Hard drop past 2 days.
There is just so much head-faking going on in this market......it's crazy.

 

[syswizard]

Down 4 cents today boys....$1000 per contract !
Interestingly Shanghai equity market has been strong.....so this is counter to that move.
This remains a market where there is no logic or reason.....