12/11/2014 – Copper
Issued: 12/10/2014
March copper:
1. A daily close today (Wed. Dec. 10) above $290.10 in March copper is the stronger position and places copper in a ‘buy’ position for a test/attempt at $294/$95 (or higher) later this week (week of Dec. 8). A subsequent report will confirm the above.
2. Once long, a protective sell stop should be placed at $288.10. This stop will be moved higher as the market continues to confirm. Will update.
David Williams
Issued: 12/11/2014
March copper:
1. Yesterday’s (Wed., Dec. 10) March copper report indicated that copper would be in a ‘buy’ position for further advance and test/attempt at $294/$95 (or higher) later this week upon a daily close above $290.10. Yesterday’s daily close was $289.50, slightly below that level.
2. However, today’s March copper session has advanced and is in a ‘Buy’ position (being well above $290.10) but with much less room left on the upside to the original $294/$95 (or higher) upside target. Therefore, only aggressive traders should consider new entry.
3. A protective sell stop should be placed at $291.40. This stop will be moved higher as the market continues to confirm.
David Williams
Issued: 12/11/2014
March copper:
1. Yesterday’s (Wed., Dec. 10) March copper report indicated that copper would be in a ‘buy’ position for further advance and test/attempt at $294/$95 (or higher) later this week upon a daily close above $290.10. Yesterday’s daily close was $289.50, so no new entry occurred.
2. However, March copper advanced this morning and prompted today’s (Thurs., Dec. 11) update for aggressive only long entry at approximately $292.35.
3. March copper subsequently declined and triggered our $291.40 protective sell stop, resulting in a small loss on the entire position. Further entry remains possible in tomorrow’s (Fri., Dec. 12) session if the market reconfirms. Will update.
David Williams
Issued: 12/12/2014
March copper:
1. Our Wed. (Dec. 10) forecast for March copper indicated that a daily close above $290.10 could be bought for a test/attempt at $294/$95 (or higher) expected this week (week of Dec. 8).
2. Today, (Fri. Dec. 12) Dec. copper completed the $294/$95 upside target (session high, $294.05, so far). This was the intention of the original trade which was stopped out for a small loss. Will message any further entry or indication in March copper.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.