16 May 2012

Copper : Taken Profit

  • Original short HGN2 @ 375, just covered @ 345.5.
  • Still heavily favor continued Risk Off but think it is prudent to lock in some profits now.
  • Chose to square Copper because I think it might find some temporary support in the low 340s. The other charts (eg Gold, S&P) have much better downside potential.
  • Also covered some short EUR/USD earlier today. Both these leave me plenty of room to step up risk should markets see a Risk Off reprieve now.

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