December 3 and What To Look for This Week...Copper!
It absolutely blows my mind when people subscribe to all these foolishly expensive news letter when you can get research as good as any of them right here. Remember my EUR/USD program. In 100 trades it has never lost. Not once. That is because we trade it like a proper speculator and not a gambler. It is all there for you to see in my blog. Last week I was on again. The Dollar topped out. Gold bottomed and the EUR/USD was indeed a buy. These are trends again this week. The 1066 area held in Gold and it should move up. I anticipate probably 1230 or 1245 this week or higher. I would concentrate of looking for key shorts in the USD/YEN but be careful as it will probably move up and down this week.
Now what about Oil? Everyone's favorite volatile market. Oil might and I say might move as high as the 55 to 58 range but I wouldn't look for too much more than that. As long as the Dollar is selling off a bit Oil will rise. No doubt. You can play this with a Short in the USD/CAD too if you don't have CFD's or futures but see if you can't catch a pull back to the 1.3380 area if you can. If not simply use smaller positions. Oil will plunge again at some point that is if war doesn't break out in the middle east. Your cue is the Dollar bottom. Somewhere in the 97 to 98 range. In the interim I will be looking to buy the dips. Oil is simply sideways folks. It is neither bearish or bullish in the long term at the moment so don't listen to the pundits. They don't know any more than anyone else. If you don't like day trading then take an option out over the next week for oil to move higher. See if you can't catch a 48. 21 area pull back to the major volume area.
However that is not the most significant commodity at the moment. What is you ask? I am glad that you did. Copper folks. XCU. Is the break out from the bottom for real? In my opinion YES. Here is why? Everyone is calling a top in the real estate bubbles in North America. Especially in the US. Not going to happen ok. The bubble is going to explode higher. Much higher. What is the major commodity used with building. You guessed it. Copper. It has often been referred to as Dr. Copper because it represents the health of an economy. This is true because home building is still the big wealth builder and staple of almost any economy with the number of industries attached to it and the number of jobs it represents. You haven't missed out folks. There is time to buy and flip or build. By my calculations another 5 years of growth at least. By the time you hear about getting in it will be far too late. Ignore the bubble experts ok. PLEASE! They are wrong here ok. You know I nail just about every major top or bottom my friends. Well this is a trend ok. You are getting in at the right time which is the middle. To show I am putting my money where my mouth is I am building this year. Now is the time to borrow for housing if you can. NOW. Not when Paulson said it but NOW!
Copper is going to move steadily up from here. See if you can buy any dip to the 2.38-39 area but you may not get a chance so jump on if you are a speculator that rides trends. You will ride copper for a long time. Measured in years. It has bottomed folks. It ain't goin any lower. However you may see a reterst of the 4.64 high and beyond in the not too distant future. So if you are a day trader this is the trend you want to buy.
Now what about Oil? Everyone's favorite volatile market. Oil might and I say might move as high as the 55 to 58 range but I wouldn't look for too much more than that. As long as the Dollar is selling off a bit Oil will rise. No doubt. You can play this with a Short in the USD/CAD too if you don't have CFD's or futures but see if you can't catch a pull back to the 1.3380 area if you can. If not simply use smaller positions. Oil will plunge again at some point that is if war doesn't break out in the middle east. Your cue is the Dollar bottom. Somewhere in the 97 to 98 range. In the interim I will be looking to buy the dips. Oil is simply sideways folks. It is neither bearish or bullish in the long term at the moment so don't listen to the pundits. They don't know any more than anyone else. If you don't like day trading then take an option out over the next week for oil to move higher. See if you can't catch a 48. 21 area pull back to the major volume area.
However that is not the most significant commodity at the moment. What is you ask? I am glad that you did. Copper folks. XCU. Is the break out from the bottom for real? In my opinion YES. Here is why? Everyone is calling a top in the real estate bubbles in North America. Especially in the US. Not going to happen ok. The bubble is going to explode higher. Much higher. What is the major commodity used with building. You guessed it. Copper. It has often been referred to as Dr. Copper because it represents the health of an economy. This is true because home building is still the big wealth builder and staple of almost any economy with the number of industries attached to it and the number of jobs it represents. You haven't missed out folks. There is time to buy and flip or build. By my calculations another 5 years of growth at least. By the time you hear about getting in it will be far too late. Ignore the bubble experts ok. PLEASE! They are wrong here ok. You know I nail just about every major top or bottom my friends. Well this is a trend ok. You are getting in at the right time which is the middle. To show I am putting my money where my mouth is I am building this year. Now is the time to borrow for housing if you can. NOW. Not when Paulson said it but NOW!
Copper is going to move steadily up from here. See if you can buy any dip to the 2.38-39 area but you may not get a chance so jump on if you are a speculator that rides trends. You will ride copper for a long time. Measured in years. It has bottomed folks. It ain't goin any lower. However you may see a reterst of the 4.64 high and beyond in the not too distant future. So if you are a day trader this is the trend you want to buy.
No comments:
Post a Comment