Again, I don't like this very-short-term trading, but its hard to have any conviction in either direction at today's levels without more data. I'm not ready to make a call just yet.
Instead, I traded on today's news of higher than expected Chinese CPI. That brings doubts about how much monetary easing China will do, and when. But for right now (after the market collected its collective head), it looks like copper will simply follow risk in general, so this was a very short-term trade.
Short HG at 378.80, covered at 378.20. Gain of 2.4%.
Instead, I traded on today's news of higher than expected Chinese CPI. That brings doubts about how much monetary easing China will do, and when. But for right now (after the market collected its collective head), it looks like copper will simply follow risk in general, so this was a very short-term trade.
Short HG at 378.80, covered at 378.20. Gain of 2.4%.
Wow, did I get out of that one too soon or what?
ReplyDelete