2011-05-17th (Tues)

At the end of the previous trading session I had the following positions;
Long 110 contracts Copper July 2011 with ACB of 410.73

Today the USD weakened slightly against both the CAD and JPY.

With increased talk about the debt ceiling, I warn that brinksmanship is a dangerous game to play.
http://www.usdebtclock.org/index.html

Let us focus on creating our own economy, and focus on trading ideas to take advantage of this opportunity.

Currently I have the following positions;
Long 110 contracts Copper July 2011 with ACB of 410.73

I am nervous on the Daily Candle to see if it will sustain a break through the channel.

Earlier Copper broke through 405.83 (2011-05-17, 18:30 pm EST) but did not sustain for more than one 1-Min Candle.

Remember Copper hit a recent low of 384.83 (2011-05-12, 06:12 am EST) and it has run up a bit too fast for me to be fully comfortable.  Yet I am not taking profit until it runs out of steam.

Copper July 2011 is currently 402.85 (2011-05-17, 22:47 pm EST)

We are still using our first line of credit activated on 2011-05-05th (Thurs) and I am considering buying more contracts.

Total equity is 103% of May 1st.

Stay Tuned,

Jeff
(2011-05-17, 23:05 pm EST)