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Getting on board with Dr. Copper

October 29, 2009
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They say Copper has a PHD in Economics or something like that.  I guess that explains why it busted above its recent range before the stronger than expected GDP report today.  It did dip quickly back below that line yesterday, but today it reclaimed it and left all those sellers yesterday caught with their pants down.

Of course, you could play PCU or FCX, but I’m going with TGB.
It shows the same dip down below the recent breakout level and a nice bullish engulfing candle to reclaim it while also bouncing off the 50 MA.

With a stop just below yesterday’s low, a move to $3.50 makes a nice 2:1 reward/risk setup.

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