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Message-ID: <34F4E38E.181D7A27@xxxxxxxxxxxxxxx>
Date: Wed, 25 Feb 1998 19:37:51 -0800
From: nwinski <nwinski@xxxxxxxxxxxxxxx>
Reply-To: nwinski@xxxxxxxxxxxxxxx
Organization: InfiNet
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To: 100771.137@xxxxxxxxxxxxxx
Subject: Re: Copper - again
References: <199802251603_MC2-34A6-1E7E@xxxxxxxxxxxxxx>
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Gerald Ashley wrote:
> Hi Everyone,
>
> About a month ago I first raised the possibility of a severe weekly MACD
> divergence in copper.
>
> Since then copper has continued to weaken - until today!
>
> I know today is expiry for March copper, but the action still looks quite
> fierce.
> Are there any real traders out there who follow copper???
NW: I am a "real trader" and long copper. I think it is a good risk reward in
the low 70s and Jupiter leaving Aquarius a few weeks ago should help reduce
any over supply. I am not sure whether this is the time for the start of a
new bull market, but I do think that Copper is long term oversold and is over
due for a substantial retracement rally. If the 72 cent level holds, I would
look for 89 cents and then the $1.00 area as reasonable upside minimum targets.
Nonferrously,
Norman
> My experience of MACD divergences is that they are extremely powerful - but
> as
> with all such methods you need patience - AND deep pockets (Timing is very
> hard)
>
> I have a chart on my home page that shows the divergence if you want to see
> it.
>
> My homepage address is
> http://ourworld.compuserve.com/homepages/Gerald_Ashley
>
> NOTE no www in the address.
>
> Also I know realtraders get annoyed at promotional stuff. So please
> remember -This homepage is FREE
> and sometimes WRONG - so don't use my trading signals as advice. It's just
> for FUN.
>
> Any views on copper - I would be interested???
>
> Rgds,
> Gerald Ashley
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