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Bogus. Copper no likey 100+ oil and all the other base metals too
So if there is a correlation between oil and copper (do correlations matter anymore?) and JPM has tried to corner the copper market in order to offset their loses from their silver derivatives position, does that mean we can expect Jamie and his ilk to be smashed finally?
Silver is going up due to massive physical purchases and copper is going down due to oil price increases. Are the heavens about to open finally?
I didn't add the section about JP Morgan and their massive copper position on the LME. I was going to save that for part 2 of my bearish copper case, but yeah, they may be in a world of HURT soon...
I could only hope. Here is an intersting article about the JP's naked short position in silver and how its derivatives position in this short will cause losses at multiples of what many believed. Good ol' Max Keiser. Between him and Tyler, I owe them some good single malt.
does anyone know for sure JP Morgans Silver position is (still) overwhelmingly short?
Ted Butler and Harvey Organ have linked to the documents to prove the short position. I just don't have enough time to go grab those links. I think the LME lists those positions per reporting requirements? I don't know, I am just a moron peon in the whole scheme of things.
Who knows what is reality anymore and what is not?
first I don't 'get' why the JPM (and Fed) would want to suppress Gold and Silver prices if they were trying to 'corner' a market.. they'd have bought as much as possible way back when Silver was $9 Oz and Gold $240 Oz.... if you'd bought the stuff you'd want the price to skyrocket and sell out on the way to the top.
Next this Silver short JPM position is a little f'ing 'public' to my mind. What bank would allow it be known they had such an exposed marker!
Sorry just my spider senses going off with the sillyness of the whole 'story line' surrounding Silver gets my goat!
This story is incomplete--bikini journalism.
p'raps u could expose more?
esp' with your .. er .. top?
Right there with you - how bad is JPM getting hurt when Silver is up and copper getting smashed
Hopefully more pain than I experienced with the brand new custom-built house I bought in 2007. At the time, a time when I didn't read ZeroHedge and watched the TV, I though $99 a square foot was a flipping great deal.
Speaking of silver....1-oz or 5-oz silver bars make nice graduation gifts.
Recently, I purchased 3 one-ounce bars for that purpose - I can gift with an appreciating asset *and* do a Max-on-JPM all at the same time. Lots of fun....:)
Next up, Blythe is shown the door, silver goes to $98.42, and I retire to the country :)
seeing some funny & phony remarks by Pandit (Citi) about emerging markets when the leading indicators in India, China & Brazil are all pointing lower -
So interesting. I ran a Japanese sub here in India and lay-offs and firings are total anethma to them. it was crazy making. it was an all around failure if it happened.
But, anyways, commodities are ultimately headign in only one direction, because the coming inferno in the middle east will crimp oil. Badly.
Oil is having a breather at roughly 105, next leg up? Only SA "knows"!
Rest, is/will be History!
So every time a revolution starts in an oil-producing country a prop desk has to close shop to keep a lid on commodities? How many prop desks are left?
Looks to me that smart money is rotating out of "Things" and back into "Paper".
Note how "resilient" the regional banks are. And they pay no dividends.
On the other hand, FCX pays 4% now, and MSB pays nearly 7%!!
Yet they are being dumped. Go figure.
FCX eliminated their divvy in December 2008. I know because I bot it on the news. Meanwhile you get a K-1 w MSB.
Whoever is rotating out of "Things" and back into "Paper" is not Smart and will soon be sans Money.
AUY and DROOY both paid me a dividend this year, thank you very much.
I am still short KBE index, the contrarian view on Robo's idea. Normally I think Robo has been right. But now is the time for a correction at best.
Yup. Bill Gross dumps UST for the "other" paper and Carl Icahn dumps his heldgefund...Canairies in the coal mine.
Fired at the top of the market/....go figure
Contrary indicator? Savvy management? Thinking Blackstone IPO.
Planets are lining up for a shift. Look at whats going on in Japan over the last 24 hours.
LOL who believes this is the reason for "weakness"
spot and futs gold and silver all green
gold and silver green but someone is unloading PM equities
Love them Japanese and their copper positions!
I spotted this from a just released GS report: http://www.docstoc.com/docs/73288599/GS-2011-03-04-CN-RE
There were 3,535 housing units sold in Beijing during February. That's down 69.4% MoM, with January seeing the lowest trading volume in three years. The GS reports indicate that March will also set new lows, with the markets in former hot cities described as frozen. The catalyst is described as "home purchase restrictions" (directed at speculators) that have been implemented. Land prices in China's development market have fallen 10-15% since December
The action has all the manifestation of a bursting bubble.
Ok, so Nomura was short Brent and Silver. Now that they have blown up and covered, how is that bullish for the commodities?
Bill Gross is wise man,but you are who posting here is doomed,because i counted over 30posts and asked to vote for FED existence in my blog:
But it was just 3 brave people to respond,which meaning that all of you is sartisfied with current environment and you probably forgot that today Jasmin reolutions based on internet first by FED elite to screw nations,I calling for thoose who wish FED abolished to vote or to leave comments at least,the thing which is world lags today is trust between us!!!
Go and vote,World should not affaid of monster eating into our wealth on everyday basic
Best thing to *not* do when promoting your own site is to come on here and insult the forum.
From the posted link:
Self educated individual sophisticated private investor growing his hard earned private capital from 100k$ into multipal six digits numbers investing from 1998 into gold,healthcare,biotech,tech and other financial instruments"
Just curious, ESL? Not bashing, just observant of the consistency of the syntax/spelling errors on the blog and survey.
At least this one wasn't blamed on Waddell & Reed.
Finger pointers... Sheesh....
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