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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (18943)4/5/2017 12:22:51 AM
From: John Pitera1 Recommendation

Recommended By
The Ox

   of 33421
 
How the May Copper -- panned out.... when we last looked in

Message 31055310

a bit latter on Monday the price objective of 2.0620 was hit so half the short position was covered.



I moved the stop loss market to 2.6260 just over that .618 level at 2.250...

and that was really not that smart in that my risk was equal to my potential return... albeit the entire short was profitable.... with the new stop market level ...



here is what the 60 minute chart looks like tonight



and a 15 minute chart that shows how copper rallied this evening..... May copper had a nice up shortly after 9 PM tonight ET and that closed the position. So it was an reasonable trade...... As a few of you may have noticed I had a buy order in for 7 contracts at the 2.5770 level which would have put me a bit long... which I felt would be reasonable as copper would be down a lot had that level been hit..... and regression to the mean kicks in and .....

As i commented on my comprehensive copper post... right now In the bigger picture I am bullish on copper.

Message 31054565

I promise I will post some trades that will blow up nicely!!!



right now for me copper is in no man's land for me in terms of what it is going to do short term... I don't have
a short term view at all.

John
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