Tuesday 5 February 2008

Doubling up the Copper short

I'd sold some Copper earlier today at 329.35. It's off around 3% or so from there, and I've just sold some more at 320.55 and stuck a stop-loss in the middle. So now I can't lose anything, but I've got a ~$65k short here. I just need it to start heading down without bouncing.

After a horrible ISM number earlier, I think even the MSM will realise that the US is heading into an UGLY recession. Stocks and commodities are going to get crushed, putting on shorts is like shooting fish in a barrel.

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