goodbye............., page-9

re: goodbye.............hello well said sunny day. in the long term we remember that and in the short term we need to be aware how this noise affects our positions and eats away at our profits.

DJ Comex Copper Review: Rebounds To Settle Higher
NEW YORK (Dow Jones)--Despite a break below key psychological support, Comex
copper futures regained their composure to settle higher Friday at the New York
Mercantile Exchange.

At settlement, most-active December copper is up 1.65 cents at $3.0575 per
pound. Earlier in the day session the contract dipped to a fresh 4-1/2 month
low of $2.98 but rebounded on a softening of the dollar and rally in crude oil.

"There were (sell) stops touched off below the $3.00 level but in tandem with
that we saw a retracement off the highs in the dollar and a bounce in crude off
its lows," said Dave Meger, analyst at Alaron Trading.

Along with the help from outside markets, physical buying demand under the
$3.00 level also aided copper in its move to positive territory.

But despite holding key support over the last week, the red metal continues
to face downside pressure as recent U.S. economic data has eased the bullish
momentum in the market.

"The data points to an economic slowdown," said Jim Quinn, a commodity floor
analyst at AG Edwards, who added that other factors, like a large increase in
London Metal Exchange copper stocks, is also weighing on the market.

Inventories of copper in London Metal Exchange warehouses rose 4,025 metric
tons to 155,975, authorities reported early Friday.

In London, three-month copper moved into positive territory after hitting a
low of $6,655 per metric ton. The contract closed up $80 at $6,820.



Settlements(ranges include overnight and day sessions): Dec (HGZ06)
$3.0575; up 1.65c; Range $2.9750-$3.0650

Mar (HGH07) $3.0925; up 1.75c; Range $3.0130-$3.1050



-By Alison Guerriere Ciaccio; Dow Jones Newswires; 201-938-5959;
[email protected]



(END) Dow Jones Newswires


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