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Created on: 3/28/2012 9:55:15 AM   Last Update: 3/29/2012 9:11:36 PM Posted by: RTT
WARNING: This entry is 1556 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.

1 POST Dr Copper suggests, its the longs that are the Gamblers (173)


dr-copper-suggests-its-the-longs-that-are-the-gamblersCopper is known as a base material for construction and manufacturing, it is also known that China imports 35% of all its copper. If true risk on was built on solid foundations copper prices would reflect this, lets see what you think.

Copper is sensitive to PMI (Purchasing Manufacturing Index) data, the HSBC China PMI has post 5 consecutive drops. Makes you wonder who is doing all the buying.

Copper Cycles : Approaching a peak

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JJC Cycle


And we see a rising wedge in early formation..this is bearish, a break of the blue 1x1 Gann Angle will very bearish.

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Angles



Letting the bullishness work it self out, may see prices pop to $52 on the Copper ETF (JJC), and thats were bears should look for a short entry.



NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

.."Mathematical science, which is the only real science that the entire civilized world has agreed upon, furnishes unmistakable proof of history repeating itself and shows that the cycle theory, or harmonic analysis, is the only thing that we can rely upon to ascertain the future."..

William D Gann


.."If past history was all there was to the game, the richest people would be librarians"..

Warren Buffett


.....“I measure what's going on, and I adapt to it. I try to get my ego out of the way. The market is smarter than I am so I bend.”..

Martin Zweig


...“People somehow think you must buy at the bottom and sell at the top to be successful in the market. That’s nonsense! The idea is to buy when the probability is greatest that the market is going to advance”...

Martin Zweig (The inspiration behind a number of Martin Zweig’s methods came, from Jesse Livermore).


..“It is much harder to sell stocks correctly than to buy them correctly.” Because of the emotional aspect of trading, if a “stock went up, the average investor would hold because he wants more gains – he’s exhibiting greed. If the stock declines, he also holds on and hopes the stock will come back so he can at least sell and break even – he’s hoping against hope”..

Bernard Baruch




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