yea, and I can assure you also in AU, UK, Canada. Take it as alternative to buy bonds & financial weapon to exercise will on these indebted countries.
But what about copper ?
- Thread starter syswizard
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yea, and I can assure you also in AU, UK, Canada. Take it as alternative to buy bonds & financial weapon to exercise will on these indebted countries.
http://www.elitetrader.com/vb/showthread.php?t=280812&page=3
Shadow inventory.....keeps visible inventories low.
Shadow inventory.....keeps visible inventories low.
Seems like you have lost your objectivity and are looking for anything to support your preconceived conclusion. Markets evolve.
If the LME rule issue is so well known, then wouldn't you imagine this "shadow inventory" is also pretty well known and priced into the market?
Well known to whom? You have to ask yourself who is actually dictating/manipulating the price of any asset based on a physical underlying: The users or the physical, or the speculators in it; this varies over time and circumstance. For something to be well known it is because those who wish to control the price make it so, and do so very much for their own purposes. Nothing in the public domain is of any direct use to those who wish to gain an edge on these markets. You have to work out what might be the intent of that information being in the public domain and the clues that provides to potential future price development.
Price action today (down at open, now even with strong US equity market) indicates that short copper is a bet against improved economies throughout the world.
In other words, copper will likely NOT go down if we see a decent recovery in Europe and better numbers out of China.
On the other hand, it likely won't go up much because of additional supplies from the major mines.
In other words, copper will likely NOT go down if we see a decent recovery in Europe and better numbers out of China.
On the other hand, it likely won't go up much because of additional supplies from the major mines.
Huge US Equity market rally has cut the losses in half for copper.
I suspect the stock levels have begun to rise on the LME.
However, I am unable to check the stock levels on the LME....I keep getting "Internal Server Error". Anyone else experience this ?
The correlation between Copper and S&P 500 used to historically be very high, but the OTR data for the past two years has really made an epic decoupling ( in fact, it is currently - 46% ! ).
If anyone has access to the Lead markets on the LME, the correlation is + 90 % which is pretty decent. Zinc is another good correlator.
Interestingly enough, the correlation between the HG future and COPX ( the global Copper Miners ETF ) is only about 90 %.
If anyone has access to the Lead markets on the LME, the correlation is + 90 % which is pretty decent. Zinc is another good correlator.
Interestingly enough, the correlation between the HG future and COPX ( the global Copper Miners ETF ) is only about 90 %.