I posted an idea on HG1! COMEX:HG1! last year where I identified a channel that futures were trading in and made a plan to trade the copper index fund AMEX:CPER while it was in the channel and trade the Copper miners ETF AMEX:COPX when it broke out to capture asset appreciation as well as dividends. I got long last March in COPX and have been holding. Price...
A little late posting this idea but I believe I identified a cup - and- handle pattern on the daily chart in ABT. I was able to enter the trade in the pull back of the 'handle' when volume was starting to dry up at $113.25. Prior to the formation of the pattern there was a ~29% run up on the stock. Playing this conservatively I am setting my price targets at 12%...
Right now copper futures (HG1!) are trading sideways in a well defined channel. With the growing demand for elecrtic vehicles and government pledges to decrease their carbon footprint copper should become a valuable commodity for building this new infastructure. While copper is trading in this channel I am going to be trading with the CPER ETF that tracks copper...
