Remember Copper? Time to buy (not advice)Hello. I talked about Copper back in March, and then in May, ideas linked below.
It has been 6 months, and after patiently waiting well here we are.
From a "George Soros investment tips" article:
"Short term investing, it must be stressed, is not like day trading. Day trading is really kind of a myth. You can’t just sit at home, follow stock trends and expect to turn a profit from one day to the next. Short term means waiting for months to expect any return on your investment."
Well I did wait 6 months. George Soros waits to buy for months, then he buys, waits for weeks, and then his gains happen over a few days. This is more what I'd expect. Seems like it always works this way.
Don't have much to add about the price going up, now is just the time to buy for me, not much has changed.
Wyckoff spring? Upthrust? Something something. Doesn't matter.
In the short term there was some FUD about China demand which helped create the down movement (typical).
In the medium term USD goes down, commodities go up, maybe energy makes it worse, green transition demands lots of material...
There is a lot we can read about copper, well a bit, not a lot compared to Oil or Bitcoin but still, enough. They talk much about the risk, it could not go up and so on. Great, noob retail gamblers, hedge fund managers, industrials and other hedgers are being careful, wait and see. Best to wait and see, because of the risk. But me? I want the risk, someone has to take it. Yes please give me the risk that's my job. Not for hedgers or gamblers. I'm as close as it gets to being stopped or winning without a greedy entry that would cause me to always miss out. Top inflexion point. Here if it goes to ~$5 I think I'll be making 10 times what I'd lose if stopped. I'm here to enter at the maximum risk, maximum "we don't know let's wait and see", I'm here to take hits.
Once there is certainty we'll probably be close to the top, and there might be a big violent correction with the gamblers snatching profits, also of course the miners want to sell, then the hedge funds that want certainty will be looking to get in on that correction. Not sure what I will do, probably weak hands once I'm at a high multiple of my risk. Probably just take another hit though.
