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Wednesday, December 23, 2009
Update 12/23.. Ouch
OUCH Copper got up past $3.20 today... this is not how to begin the Holidays. Total loss is $3,425, putting my account at $9,625. I'm going to keep my current orders to sell at $3.02 and $2.95 intact.
I'm still expecting a stronger dollar and a much weaker new housing market and so I see it headed south.. but these last few trading days have rattled that confidence. We'll see when the USD begins to rise this winter/spring. But longer term, the USD will weaken and yes I can see copper taking off towards $4.00
My educated guess is that copper is going back over $4/lb. I'm a long time investor in copper mining shares.
ReplyDeletebeebs
I'm still expecting a stronger dollar and a much weaker new housing market and so I see it headed south.. but these last few trading days have rattled that confidence. We'll see when the USD begins to rise this winter/spring. But longer term, the USD will weaken and yes I can see copper taking off towards $4.00
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