Just sold some Mar '08 Copper at $321.75, in just over $30,000.
I'm quite surprised how well copper has done lately, given all the recession talk. I guess it's partly to do with the fall of fiat money and the move into hard assets that has been going on ever since the Fed starting cutting rates. Fundamentally, any slowdown is going to affect demand for this industrial metal, so I expect some decent price falls from here. I'll try and add to the position as and when the price falls.
Also, if you've got any nickels in your pocket, you might wanna think about joining me in this trade. Nickel is 75% Copper and 25% nickel, and if you price up the fundamental value in a coin, it's about 6.8 cents at the moment!
The next thing in commodities that I'm having a close look at is meat prices...I see contracts for Feeder Cattle and Live Cattle, and Lean Hogs and Pork Bellies. Now, in all honesty I know jack-sh*t about any of this, but it was put to me somewhere that meat prices could be in a lull as farmers cull their cattle instead of rearing them, due to high grain/feed costs, and once that increased supply is out of the way, there will actually be much LESS supply in the future, so prices could really soar.
Looks like a good entry. The other contracts I mentioned look similar. I'll keep an eye on it for now, although am very close to pulling the trigger.
If anyone has any knowledge about this stuff, please let me know!