On 7 Jun 12 I had bought BHP Billiton at $64.70. That was when the whole world is pessimistic about China. Many investors think that China will slow down their demand for industrial metals. This allows me to buy industrial metal giant like BHP Billiton at an attractive price.
Share price of BHP Billiton started to move up shortly after we had bought the stock. However I am bullish on US dollar now. This is negative for commodities as commodities are priced in US Dollar. Rising US Dollar makes commodities more expensive.
I had sold off BHP Billiton today at $71.35. Profit is 10.27%.
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BL, CEO of Tactical Trading Academy – For Your Profits, Your Success Is Our Success!
“Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.” – George Soros