Core Book + Copper : My Thinking

• Core book running 2 strategies - 1. -Copper vs +AUD/-USD and 2. +USD/-JPY.
• 1. -Copper/+AUD : Copper chart = down, AUD chart = up. Idea behind spread is to dampen volatility from China and/or Risk On/Off and let the charts do the heavy lifting. Worked like a dream as seen from reaction to weaker than China 1Q13 GDP data today - Copper -2% and AUD -0.6%.
• 2. Long USD/JPY : (under)-committed at +99.16. Plan is to buy more on very big drop, or if not, wait for break of 100.00 to add on (preferred). Thus far, dip to 97.56 not sufficient to get me to buy more. Will sit through this. Unlike the previous time (short at 93.30, against the trend, panic stations after BOJ meeting), am much more relaxed about this setback because position is with the trend.
• Copper technicals : New lows being made. Note big technical level on monthly chart at 330 (NL of SHS top) being challenged now. GTC sell stop-in at 329.80 triggered here so risk increased to max now.