Well another banner day.. copper opened at $3.1325 with a high of $3.184.. so again I made another $1,000 today as my order was to "buy" at $3.14 and sell at $3.18. I'm beginning to like this copper thing !! The day ended at $3.17ish. Not sure where we're goin from here; copper has problems breaking thru $3.19, but we are still in a bull market... I'm going to put in an order to "buy" March copper @ $3.20 with a three cent trailing stop and a goal of $3.24. This brings my imaginary account to $13,027.
Apparently the Japanese prime minister and the governor of the Bank of Japan have heard my cries.. dare I say they're followers of my humble blog ??
"TOKYO (Dow Jones)--Japan's top government spokesman said he expects Prime Minister Yukio Hatoyama and Bank of Japan Gov. Masaaki Shirakawa to exchange opinions on the economy and to discuss the possibility of the central bank adopting a policy of quantitative easing, local media reported Monday"
Monday, November 30, 2009
Saturday, November 28, 2009
Update 11/28
A minor panic happened on Thanksgiving Day and yesterday as the tiny oilpit Dubai threatened to default on about $80 billion of debt, mostly to EU and Japanese banks. Barclays and RBS especially took it on the chops. Me thinks this is a small matter and monday we'll be back to the same old story.. stock markets & metals going up and up. Therefore I'm putting in an order to "buy" March '10 copper again $3.14 Monday morning with a goal of $3.18 (copper is @ $3.105 now) with a two cent trailing stop.. same play as last week. I'll also be looking to "sell" copper at $3.00 with a two cent stop should it go that low.
In a tad more ominous news, the Yen streaked up to 118 (a major move) versus the dollar on the overnight market before the BOJ intervened and bought dollars. There is a very real and growing chance that Japan will be in a seriously deflationary state soon enough. The BOJ must do something, and before year's end I think they will.
In a tad more ominous news, the Yen streaked up to 118 (a major move) versus the dollar on the overnight market before the BOJ intervened and bought dollars. There is a very real and growing chance that Japan will be in a seriously deflationary state soon enough. The BOJ must do something, and before year's end I think they will.
Wednesday, November 25, 2009
Update 11/25
Well today was a wild one.. I "bought" a copper contract at $3.14 and bailed at $3.18 for a dandy profit of $1,000 just today. Wow !! Copper opened at $3.135 and went all the way up to $3.184 today.. quite the move. The USD tanked; gold shot up as well. Crude also gained a couple dollars to close above $78/bbl. Now that's the way to begin the holidays !! This brings my imaginary account up to $12,027.
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