Friday 28 February 2014

Buy a half-position in May copper market, [3.1960]

Use 3.1740 as a sell stop.

Copper appears to be setting up a buy scenario at what we
call the “danger point,” even though risk is reduced when
positioning near a danger point.  It looks like a classical
transfer of risk from weak into string hands.  A rally higher
in the next day or so will likely confirm this observation.

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