[COPX] update

In the backlink I provided the chart below which indicated COPX could go to the low 4s by the blue path.



The model below is slightly different than above but the outcome should be the same.  Whereas the above model was $5, now COPX is in the low 4s, just where the model expects it to bottom.  All the signs are there for a significant commodities reversal to take place into early October.  I like being long commodities more than being short the markets and I have been slowly adding to my ORIG and CLF positions for a few weeks now.

Even boring old COPX is going to double when the reversal takes hold.  Commodity deflation has been massive and this is the time to buy since blood is in the streets.  Most people should be cost averaging into stuff that has no time value in it.  Traders should of course be using stops at all times.