lumber futures getting dumped, copper the next shoe to drop. Volume just getting a shellacking. Time to lock in profits unless you're looking for red candles to accrue moneyness.
The 30s looking really indecisive.
The 30s looking really indecisive.
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pigs slaughtered this AM; sold a few put contracts, have a 1 still out of the money but should pierce the $40 handle by Friday. PT $39.75. 🤙🏽this should spend a few days to a couple weeks to consolidate & churn. looking for steady eddy support before eyeing calls again. FCX is trading in a historical death zone; rarely stays up here at these levels. Really need to look at the Chileans and see what kind of production they're ramping into post-pandemic before going long copper. IMO 60% of this trade is just hogs chasing, the other 40% is a proxy if the FED tapers.
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regression trend reading like a playbook...Note
hmmm. front month copper futures down a percent but this thing rallying. If it's a game of chicken to sell into options exp., will wait the final hour of trading to watch volume trail off here 👌🏽
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Copper now tanking -2% on the day. Ready for another cascade this afternoon....
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.