Thursday, June 02, 2011

Why all traders should watch copper

How many times have we heard about Dr. Copper as a great “tell” for the economy?   It’s on the radar for most longer-term traders but it should also be on the radar for short-term traders.    We’ve said it a hundred times to our subscribers over the years that copper is THE tell on our market screen.   It often leads the market up and down.   Today was a fantastic example as it bottomed at 11:30 bar while the SPX kept falling for another 18 minutes until it bottomed.

Take a look at this overlay of SPY over HG_F

And in real-time, only on StockTwits  (not on WSJ, not on CNBC!)  the call from our esteemed friend Dinosaur Trader.

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