Robert Edwards'  Instablog

Robert Edwards
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Contrarian daytrading technician who specializes in micro scalping of stocks (using 1 minute bar charts), swing trading of stocks overnight, weekly stock option premium selling, pre-market and post-market psuedo market maker and stealth trading activity, and selling commodity option strangles... More
  • Copper Is Going Up But The Bears Are Still Being Rewarded! 0 comments
    Aug 22, 2013 11:48 PM

    (click to enlarge)

    On August 9, 2013, I wrote an instablog (check it out here) where I explained how one can successfully short Copper on rallies, using 2 1/2 cent increments to get short. That strategy continues to work. Just look at the above September Copper chart, and one will notice that on this most recent rally, crossing over the lines of $3.30, $3.32 1/2, $3.35, and $3.37 1/2, one would be in the money the following day, if not the very day the short position was placed. Often copper worked all the way down to slightly below $3.30, so one would have made a nice day trading and swing trading profit going short at every 2 1/2 cent increment. The good news is that when copper finally stops rallying and rolls over, by shorting early one will be on the right side of the market when the big slide begins like it did in June.

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