Loading ...Copper: Sir Fully’s post late last night
Sir Highroller,
What does your TA on FCX say?
I cost averaged down FCX, buying a small quantity @ 28.21 today
Sir Fully’s post late last night on Copper: https://goldtadise.com/?p=544696
and today’s update from Morris Hubbart …
http://www.321gold.com/editorials/sfs/hubbartt070822.html
FCX was discussed just a few weeks ago, in a post by CM.
I responded to that one or two posts later.
CM updated his take a week after that.
My views haven’t changed, and my outlook appears to be aligning with PMs in general.
My last remarks in that view (from April) pointed to late summer, and that still applies.
NOW .. I will not get, or post, signals to buy on red bars at any degree.
My signals, especially at major bottoms, tend to be “late” by a few days up to a week.
My backtesting says that strategy is a net winner, over front running based on OS conditions.
GL in any event.
Thank you Sir PD.
FCX went from 51 to 26 rather too quickly.
If it goes below 26, I’ll probably buy double the (nimble) position size I bought at 28.
FCX is a global level copper play.
News like this out of China should help commodities, methinks.
https://twitter.com/i/events/1545145360947068930
https://twitter.com/philrosenn/status/1545045060328116224
Still learning macro 🙂
GL
Nothing stands out for me on the indicators. Fed talking of another rate hikes in a couple of weeks should slow the economy more once again. As Pedro writes indicators take a few days/weeks to show the move, bottom picking is near impossible. 4hr looking like one more drop so perhaps wait and see . Mondays can be full of surprises but traders are busy on holidays so stuff looks like a grind down.