Thursday, May 13, 2010

Update 5/13

The GBP and the Euro are sinking very quickly; in this era of deleveraging and central bank interventions, I'm thinking that we're getting close to intervention; therefore I'm going to put in a "buy" order on the Euro at $1.26 with a stop loss of two cents.

Copper today opened up at exactly $3.20, a loss of exactly two cents per pound, for a total loss of $1,500. The last two copper trades have wiped out (and them some) the money made in my euro trade. I'm changing order: "sell" two copper at $3.00 and "buy" two at $3.27, both with five cent trailing stops.

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