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Copper Has Largest 5 Day Move Ever At Over 6 Standard Deviations

Tyler Durden's picture




 

As if the ES futures were not enough to satisfy the thirst of those seeking incredulities today, Copper - the oft-watched indicator of all that is good in the world for every Keynesian economist - has just smashed all previous records for its largest rise in a week. At over six standard deviations this is the biggest move ever and whether efficient market followers or Trichet stability hypothesis worshipers, this week's rip-fest must surely 'help' all those industrials in the world with their resource planning for the coming year/month/week/hour.

It's also worth noting that since Friday's close COMEX copper is up over 13% also alone.

Chart: Bloomberg

(hattip: Sean Corrigan)

 

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Thu, 10/27/2011 - 08:28 | 1816637 The Axe
The Axe's picture

amazing...

Thu, 10/27/2011 - 08:45 | 1816701 bernorange
bernorange's picture

Sounds bullish for pennies.

Tradition!

www.pmbug.com

Thu, 10/27/2011 - 09:05 | 1816778 Don Birnam
Don Birnam's picture

Pre-1982 Lincoln cents, bitchez !

Thu, 10/27/2011 - 10:39 | 1817157 IAmNotMark
IAmNotMark's picture

And nickels.

Current values at www.coinflation.com

 

Thu, 10/27/2011 - 08:30 | 1816639 malikai
malikai's picture

Recession: OFF

This is great. Next I'm going to press the red inflation button instead of the green inflation button.

Or, should I press the red hopium button or green hopium button?

Thu, 10/27/2011 - 08:45 | 1816702 LawsofPhysics
LawsofPhysics's picture

Hyperinflation in everything you need, food, water, fuel, hyperdeflation in everything you don't.  Apple even said i-crap will be cheaper.

 

Hedge accordingly.  The big question I have, which everyone seems to be ignoring, is who's bonds will be sold next and how will the bernanke continue to surpress interest rates?  I see many bubbles and have considerable holding there (since May), that are being moved.  I think bond vigilantes are completely misunderstood.  We, I mean they just got Greek bond holders to take a 50% (or more) haircut.  Hhmm, time to dump my U.K. bond holdings, is America next?

Thu, 10/27/2011 - 09:17 | 1816832 Mike2756
Mike2756's picture

So much for the next Bernank print fest, ain't gonna happen.

Thu, 10/27/2011 - 10:27 | 1817108 reload
reload's picture

unless he decides 100% debt/GDP ratio is `unhelpful` and decides to vaporise some debt anyway.

Thu, 10/27/2011 - 11:12 | 1817265 Mike2756
Mike2756's picture

That's about the time the proletariat will decide that he's unhelpful, lol.

Thu, 10/27/2011 - 08:31 | 1816648 hackettlad
hackettlad's picture

No recession, all is well.  SPX on course for biggest montly gain since 1957.

Thu, 10/27/2011 - 08:47 | 1816714 LawsofPhysics
LawsofPhysics's picture

no shit.  This isn't 1957 though, this is 1926 on steriods.

Thu, 10/27/2011 - 08:32 | 1816653 Archimedes
Archimedes's picture

Hey I hate all of this nonsense but I got to say that unfortunately the” Keynesian’s" have been kicking the "Austrian's" ass lately.

I almost went long the other day but did not have the balls to do so. Missed out on some money. But oh well. At least I did not lose any being short!

Thu, 10/27/2011 - 08:34 | 1816658 malikai
malikai's picture

How are the austrians wrong? We've always said they are going to print. Is that not what's being priced in?

Thu, 10/27/2011 - 08:38 | 1816677 Archimedes
Archimedes's picture

I said nothing about Austrians being wrong. Just said they were getting their ass kicked right now!

Thu, 10/27/2011 - 08:39 | 1816683 malikai
malikai's picture

Not this one. :)

Thu, 10/27/2011 - 08:41 | 1816690 Buckaroo Banzai
Buckaroo Banzai's picture

You aren't making sense.

Oh, by the way...

COPPER BITCHEZ!

Thu, 10/27/2011 - 08:42 | 1816694 Sathington Willougby
Sathington Willougby's picture

 

ORLY?  My Philharmonics are just dandy.  Why don't you go push string?

Thu, 10/27/2011 - 08:35 | 1816663 firstdivision
firstdivision's picture

Which is how I got stopped out shorting this while long AUD.  The corr trade on that failed me.  Well, I'm thinking today might be a good short after opening. Too many institutional investors will take profits today from that epic short squeeze and this illogical rally.

Thu, 10/27/2011 - 08:35 | 1816667 cossack55
cossack55's picture

Time for a CME intervention. Probably a 30% margin increase ought to do it. 

Thu, 10/27/2011 - 08:39 | 1816682 LawsofPhysics
LawsofPhysics's picture

Yep, and then buy some more.  rinse repeat, getting closer to 100% every time.

Thu, 10/27/2011 - 08:40 | 1816684 ZackLo
ZackLo's picture

Beat me too it was just about to say what about margin hikes?!?!? Oh I see how it is... candy caines before christmas and a turkey in every pot for thanks giving
               also this!
                   \/

http://www.youtube.com/watch?v=QH2-TGUlwu4

Thu, 10/27/2011 - 08:36 | 1816672 GeneMarchbanks
GeneMarchbanks's picture

So.. Risk ON I take it?

Thu, 10/27/2011 - 08:38 | 1816680 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

The copper theives will be pleased... time for them to put in some overtime over the weekend before the price collapses again.

Thu, 10/27/2011 - 10:03 | 1817002 afdestruction
afdestruction's picture

E

Thu, 10/27/2011 - 08:40 | 1816685 MFL8240
MFL8240's picture

hahahahaha!  This is insane.  print money and the economic laws are rewritten, all is well.

Thu, 10/27/2011 - 08:42 | 1816695 apberusdisvet
apberusdisvet's picture

 

Hmmm:  gold should be up at least $20; again the obvious manipulation is counterintuitive;  the arrogance of the banksters in assuming that we all all the dumbest of phukks is simply amazing.

Thu, 10/27/2011 - 08:44 | 1816699 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

"Irish finance minister says threat of recession in Europe has been removed"

- And, yes, i did p*ss myself.

Thu, 10/27/2011 - 10:04 | 1817007 Boston Matrix
Boston Matrix's picture

I think he probably right, assuming he means the threat has been removed because they've now realised it's a certainty.

Thu, 10/27/2011 - 08:44 | 1816700 spartan117
spartan117's picture

Like I said yesterday, there goes the USDX.  Back down to 74.

Thu, 10/27/2011 - 08:49 | 1816720 slackrabbit
slackrabbit's picture

Copper is up. Gold is down.! And the bullshit index has now gone to infinity!

Im keeping my copper etf shorts, cos china is getting ugly. 

My brother just came back to hong kong this week.... he's been around the smaller cities - towers everywhere all half finished. 

Taxi drivers are a good source for info, cos everyone speaks to them; and they say many people have lost money on apartments and constuction has stopped etc. 

Thu, 10/27/2011 - 09:12 | 1816808 SmoothCoolSmoke
SmoothCoolSmoke's picture

Slack....what ETF do you use to short copper?  If you do not mind saying.  Thx

Thu, 10/27/2011 - 08:53 | 1816731 myztix
myztix's picture

There goes Copper predicting the future...

Or are you expecting the market to rally in time step?? 6 Standard Deviations?

Thu, 10/27/2011 - 09:31 | 1816881 MillionDollarIdiot
MillionDollarIdiot's picture

Haha I only normally work out volatility for 3 standard deviations or 99.7% of results....whats 6 standard deviations in percent form? 

 

Thu, 10/27/2011 - 09:34 | 1816891 unununium
unununium's picture

Didn't we decide that copper was one of JPM's hail Mary plays to offset their hopeless silver position?

Thu, 10/27/2011 - 09:52 | 1816966 Downtoolong
Downtoolong's picture

At every CFTC hearing on position limits (they must have broken the 1000 barrier by now) the TBTF banks show up and defend the need for speculation in commodities markets. At the same time they claim to never speculate themselves. Good thing; imagine how much volatility there would be if they did (sarcasm). I guess that leaves doctors, dentists, and the AARP trading club to blame. Who knew they were so active in these markets.

Thu, 10/27/2011 - 10:06 | 1817024 Hephasteus
Hephasteus's picture

It's funny because who gives a shit about the price. Nobodies buying it. LOL

6 sigmas. LMFAO.

Thu, 10/27/2011 - 11:41 | 1817378 JW n FL
JW n FL's picture

 

 

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