Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 670.31

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Nov 6 4:00 PM EST

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To: Lazarus who wrote (46615)	2/21/2013 9:29:15 PM
From: John Pitera	1 Recommendation Read Replies (1) of 218568

regarding the multi year copper chart.... using the most basic edwards and Magree Technical Analysis.... we have found the copper market in a semetrical triangle since early 2012. One of the key points they always made in their books was that if the price did not break out 2/3- 3/4 of the way through the pattern.. that it negated the pattern and you have no predictive value in the chart... Copper has done a fine job of doing this The Low percentage of long positions would be a screaming sell signal if this were 1973. With the multiple derivative markets and ways of utilizing a matrix approach to hedging and speculating through hedging.... the chart does not really give us much to work with. I'd put more emphasis on what the commercials vs. the speculators...... and that would fit in with what I see as a very possible double dip recession, with commodities coming down some ..... as well as equities as we witness price discovery over the next 6 months. John

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