On CNBC's "Futures Outlook," Scott Nations said copper is going to continue to trade higher. He explained that the same things that are behind the parabolic move in lumber are also driving copper higher.
Nations wants to have a long position in copper, but he doesn't want to buy the top. Nations wants to buy the December contract at $3 and he would set a stop loss at $2.85 and a target price at $3.30. At those prices, he is risking $3,750 to make $7,500.