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Thursday, March 13, 2014
How to Trade Copper For a Turn Around
The price of copper is under assault. In just the past five trading sessions the iPath DJ-UBS Copper TR Sub-Idx ETN (NYSE: JJC) is down more than 8%, and year to date, the fund is off nearly 14%.
JJC now trades well below its short-term 50-day moving average, as well as its long-term 200-day moving average.
Yet despite the drop in copper prices, I think traders can look at the sector's slide as a buying opportunity. (more)