Copper

Was wrong about the breakout, so might as well predict the opposite now:

Copper will soon fall below 2.50.
 
Red Kite (hedge fund) is caught long copper and loosing their ass. They will pound cooper the next few days now that the cat is out of the bag to make them suffer.
 
indeed....

http://warrants.bnpparibas.com/sg/news_details.asp?storyId=nN02295100
02/02/2007 (15:20)

Hedge fund Red Kite tries to delay redemptions-WSJ

BOSTON, Feb 2 (Reuters) - Hedge fund Red Kite, which posted strong gains in 2006, has suffered a roughly 20 percent loss in the first days of January and is now trying to stall investors who want to pull money out, The Wall Street Journal reported.

Citing one unnamed investor who saw an unofficial estimate of the 2-year-old London-based hedge fund's performance in the first few weeks of January, the newspaper wrote that the fund lost about 20 percent for the year.

Red Kite specializes in metals trading.

The newspaper also said the fund had asked investors to approve an amendment that would require investors to give 45 days notice before pulling their money out. Previously they were able to get their money out at the end of each quarter after giving only 15 days notice.

Red Kite has not returned calls seeking comment.
More...
 
Holy crap! I thought the cat was out of the bag and never checked the market.... Would of been a handsome short. Did not start the selloff till the right coasters were shaking off the hangover and reading the news.

Another hedge fund goes bust and the vultures will be rushing in. "Sell Mortimer sell!!! Get back in there and sell!!!!!"

God bless Ralph Bellamy and Don Ameche!!!!!!!



:D :D
 
You must log in or register to reply here.
Back
Top