12 March 2013

Copper : Stand Aside First

  • Would love for the big triangle right shoulder to work. But it's taking too long and I am nervous that the down move has still not shown signs of accelerating.
  • Short HGK3 at average 361. Just squared entire position at 353.95. See daily chart. Price has re-entered the big triangle support line.
  • Stand down, in watch mode. Still want to re-enter short. Just being prudent for now.
  • Also, a nagging thought : Shorting does not square with the recovery trade.
  • Having said all the above, wouldn't it be just typical for this mini rally to turn out to be the one last bear squeeze before we collapse. So - keep your eye on the ball. Maybe sell small high, sell large low.


Taichiseal said...

Re-sold half at 356

Taichiseal said...

Covered 25% at 355.

So now left with only 25% of original short position.