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03-02-2015, 04:56 PM
#241
Looks like the market is pinning hopes on a China stimulus situation as copper powers back above $2.50 p/lb.
http://www.bloomberg.com/news/articl...vity-contracts
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03-02-2015, 06:54 PM
#242
Originally Posted by BFG
Yep going long now is potentially a good option. Held OZL for some time now with a view to getting in at the bottom of the cycle. Will be interesting to see where this one goes.
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03-02-2015, 08:05 PM
#243
Originally Posted by Schrodinger
Yep going long now is potentially a good option. Held OZL for some time now with a view to getting in at the bottom of the cycle. Will be interesting to see where this one goes.
The depreciating AUD can only help those companies reporting in AUD
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03-02-2015, 10:10 PM
#244
Moosie, what are you talking about?
It hasn't cracked $2.50 & is hardly powering ahead...
You obviously know my view, so no pint repeating it.
Good luck guys.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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03-02-2015, 10:16 PM
#245
Originally Posted by Daytr
Moosie, what are you talking about?
It hasn't cracked $2.50 & is hardly powering ahead...
You obviously know my view, so no pint repeating it.
Good luck guys.
Spot price currently soaring 3%+ to $2.5922. Futures will follow in step tonight.
http://www.kitcometals.com
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03-02-2015, 10:25 PM
#246
Yeah I saw that after I posted.
No one actually uses a spot price for copper.
Its the 3m price that's the copper bench mark, so that's the price for May.
If you asked most traders what the spot price for copper was they wouldn't even know the answer, they would calculate it back from the 3 month price & in fact that's how it is calculated.
So actually Futures dictate the spot price, not the other way around.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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03-02-2015, 10:32 PM
#247
Originally Posted by Daytr
Yeah I saw that after I posted.
No one actually uses a spot price for copper.
Its the 3m price that's the copper bench mark, so that's the price for May.
If you asked most traders what the spot price for copper was they wouldn't even know the answer, they would calculate it back from the 3 month price & in fact that's how it is calculated.
So actually Futures dictate the spot price, not the other way around.
I duly look forward to what the spot price will be tomorrow morning. No doubt it will be higher than $2.50. Must be really packing those empty warehouses today
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04-02-2015, 01:36 PM
#248
Much higher & even the 3 month is now around $2.56/Lb !
I would suggest this purely speculative interests covering before Chinese NY & others going long on the hope stimulus in Europe & perhaps China creates demand. The data including stocks is telling me otherwise.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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04-02-2015, 01:37 PM
#249
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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04-02-2015, 05:05 PM
#250
Originally Posted by Daytr
Much higher & even the 3 month is now around $2.56/Lb !
I would suggest this purely speculative interests covering before Chinese NY & others going long on the hope stimulus in Europe & perhaps China creates demand. The data including stocks is telling me otherwise.
I'd go with it copper at 2.56 is cheap but I'm not a trader.
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