copper price due for massive correction!, page-2

Mission
I'm not trying to be negative or downramping PNA, I hold, got in at 28c so I'm in the money too. But history does repeat. Remember when PNA was $1 in May 2008 and the GFC and copper price send it plunging to under 10c in Jan last year. We have had a great rally since Feb, but as the article states, it's based on sentiment and speculators more than reality.

Caution is what I'm saying. The fundamental LME Copper inventories have been rising since China stopped the build up. This simply means less demand.

As the article states "Copper traders are so enthralled by the SPXs seemingly impregnable advance that they have been willing to totally ignore utterly massive builds in copper stockpiles! This is unprecedented."

We have not had a periodic pullbacks in a common pullback cycle since October - just a worry that's all.

But I agree, if I had panicked and sold when I first saw a similar article 6 weeks ago I would have missed a 13 cent gain.

However what would be your escape strategy?
The only escape strategy I know is to really lock in a conditional sell price at a percent lower than current share price to lock in your minimum profit and move it up periodically when SP rises.

I doubt if we would see a sudden collapse of the LME price and a panic sell off over a couple of days. I too have faith in PNA but I've seen holders have no qalms about dumping immediately on rumors or sharp copper price movements.

Since July LME Stockpiles have doubled and the copper price is up 51%, this is unusual, as stockpils rises usually mean the price falls!

A great stock to own in a bull market but unforgiving when recession hits!

Cheers
DaveJ