An Update On Copper
May 20th, 2009 | By Rick Pendergraft | Category: Financial News, Gold MarketBack on March 2, I wrote a bullish piece on copper and detailed that the price had stabilized and that the bearish sentiment was over the top at that time. Copper has rallied nicely since then, so I thought it would be a good time to update you on my view.
We have seen the price of copper rise from $1.25 to $2.10, but from the looks of the sentiment towards copper, the bull market in copper is far from over. I would think as long as the COT shows a net short position from large speculators, there is room for copper to rise and we could see copper over $3.00 again before the end of the year.
Source: An Update On Copper
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Rick is currently the Editor-in-Chief of The ETF Options Trader and the Triple Wave Investor. At the age of 23, on the third options trade he had ever placed, Rick turned $1,800 into $22,000 in less than a week, when the company he bought became the target of a takeover. He admits it was a stroke of luck, but it was a memorable education as to the leverage that options can provide. He lives near Delray Beach, FL with his wife and three children.
