Guest Posted April 21, 2004 Report Share Posted April 21, 2004 FCX hit hard Look at Copper tonight... Reuters UPDATE - Most Shanghai copper futures trade limit down Tuesday April 20, 9:43 pm ET SHANGHAI, April 21 (Reuters) - Most Shanghai copper futures traded their three-percent lower limit on Wednesday morning after the London Metal Exchange posted heavy losses overnight, traders said. The most active October contract (SCFV4) traded 660 yuan lower at 26,390 yuan ($3,189) a tonne shortly after trade began. Other contracts fell by between 400 yuan and 820 yuan a tonne by 0118 GMT. The market expected Shanghai futures to remain weak in the near term. "China's copper prices were strong earlier this year, which dampened some demand. Abundant domestic supply has thus been depressing futures prices lately," the trader said. Wednesday's falls were also due to LME's lacklustre performance overnight, traders said. LME three-month copper ended $75 lower at $2,885 a tonne at Tuesday's kerb close on news of a resumption of high-grade output at Freeport-McMoRan Copper & Gold's (NYSE:FCX - News) mine in Indonesia, which was hit by a rockslide last year, traders said. ($1=8.276 Yuan) Link to comment Share on other sites More sharing options...
brian4 Posted April 21, 2004 Report Share Posted April 21, 2004 Stain-Thank you -you are correct-I am challenging the TUNE! Link to comment Share on other sites More sharing options...
stained jeans Posted April 21, 2004 Report Share Posted April 21, 2004 Just wonderin'... Since this is a login forum, who's the anonymous user? Link to comment Share on other sites More sharing options...
stained jeans Posted April 21, 2004 Report Share Posted April 21, 2004 Stain-Thank you -you are correct-I am challenging the TUNE! :wink2: Link to comment Share on other sites More sharing options...
GTNWORSE Posted April 21, 2004 Report Share Posted April 21, 2004 I posted this afternoon on M2M. FWIW: There are two possible scenarios that I subscribe to for what happened today: 1) Greenspan has been spending too much time on the bat phone talking to the village idiot at the White House. He is absorbing stupidity directly through the phone. 2) Given his remarkable ability to talk BS*it, his comments were coldly calculated to wrek havoc on the stock and bond markets. After careful analysis I think #2 is the most likely. I will not be the least bit surprised to see this move completley reversed tomorrow based upon comments he makes in testimony. WHY: I would really like to get a look at the "blind" trusts of he and his "friends Link to comment Share on other sites More sharing options...
Big Doo Doo Posted April 21, 2004 Report Share Posted April 21, 2004 FCX hit hard Look at Copper tonight... Reuters UPDATE - Most Shanghai copper futures trade limit down Tuesday April 20, 9:43 pm ET SHANGHAI, April 21 (Reuters) - Most Shanghai copper futures traded their three-percent lower limit on Wednesday morning after the London Metal Exchange posted heavy losses overnight, traders said. The most active October contract (SCFV4) traded 660 yuan lower at 26,390 yuan ($3,189) a tonne shortly after trade began. Other contracts fell by between 400 yuan and 820 yuan a tonne by 0118 GMT. The market expected Shanghai futures to remain weak in the near term. "China's copper prices were strong earlier this year, which dampened some demand. Abundant domestic supply has thus been depressing futures prices lately," the trader said. Wednesday's falls were also due to LME's lacklustre performance overnight, traders said. LME three-month copper ended $75 lower at $2,885 a tonne at Tuesday's kerb close on news of a resumption of high-grade output at Freeport-McMoRan Copper & Gold's (NYSE:FCX - News) mine in Indonesia, which was hit by a rockslide last year, traders said. ($1=8.276 Yuan) A little over a week and a half ago, I suggested that copper had risk down to about $ 1.00 per pound, and that PD was a potential short. Link to comment Share on other sites More sharing options...
Captain's Log Posted April 21, 2004 Report Share Posted April 21, 2004 I guess I'm pretty sure that one of the most corrupt and sleezy administrations in our history is going to do everything possible to make sure that things stay pretty much OK.....at least till after the election This probably belongs in PolStool but if you held big money strings, which party would you want to get in.. Even though I like Kerry as an individual, I feel the honeymoon period is going to wear off with voters. It will be like Thatcher vs Neil Kinnock in UK. He had lot of sympathy early on, but UK press tore into him that made him unelectable. My prediction:- 1, Pub's will win this election (marginally) 2. Pub's will run amok in euphoria and come out with stupid policies. (Nobody to temper themselves). 3. Pub's will enventually hang themselves with their hubris - a policy too far. In meantime, Dems will be in the wilderness and will re-invent themselves. Dems may even loose 2008 but after that, the Republicans will implode as a party. Without an opposition, they will fight amongst themselves. Link to comment Share on other sites More sharing options...
Big Doo Doo Posted April 21, 2004 Report Share Posted April 21, 2004 B4: Outstanding calls today ! Good on ya ! Link to comment Share on other sites More sharing options...
brian4 Posted April 21, 2004 Report Share Posted April 21, 2004 GTN- fair enough-the people on this thread are tight and they are BEARS we can and do argue over to what extent but if you aren't a BEAR you are fair game we don't take any prisoners. We do however make $ which last time I looked is what it is all about-as to the high IQ Damn right! Link to comment Share on other sites More sharing options...
brian4 Posted April 21, 2004 Report Share Posted April 21, 2004 Big Doo- Thank you! Link to comment Share on other sites More sharing options...
Big Doo Doo Posted April 21, 2004 Report Share Posted April 21, 2004 Here is my next contribution ... IGT ... this is a screaming short ... for a ride back down to $ 15 ... as interest rates rise. Pull up a long term multi year chart on this one ... and you will see that it slides down hill real bad with rising rates. As Doc has said, the bond trend has now reversed ... so hop aboard an IGT short for a ride back down. Link to comment Share on other sites More sharing options...
GTNWORSE Posted April 21, 2004 Report Share Posted April 21, 2004 Cool Link to comment Share on other sites More sharing options...
anoscope Posted April 21, 2004 Report Share Posted April 21, 2004 I think of a scene, in a very busy emergency room, bad cases all around, and one of the worst was Spoo and his friend Nazduck lying on the gurneys, both on their backs, monitors showing a near flatline. Suddenly both go flatline, the monitors' shrill alarms make Doctor Al run to their side. Calmly, with professionalism oozing from his confident bedside manner, he says a single word... "Paddles". He readies both patients, charges to the max, says "clear" and everyone holds their breath. The charge is so massive the lights flicker for a moment, then dim a bit. The two patients both start shaking massively instead of the expected "jump start". Dr. Al, sadly, with great disdain realizes that he has used the Taser paddles instead of the defib paddles. He leaves knowing his motto of "do no harm" has backfired and that the two good friends Spoo and Naz will not see the best of times again. Link to comment Share on other sites More sharing options...
The End Posted April 21, 2004 Report Share Posted April 21, 2004 Here is my next contribution ... IGT ... this is a screaming short ... for a ride back down to $ 15 ... as interest rates rise. Pull up a long term multi year chart on this one ... and you will see that it slides down hill real bad with rising rates. As Doc has said, the bond trend has now reversed ... so hop aboard an IGT short for a ride back down. You are willing to short International game tech. With almost every state in this country needing tax revenue. Good luck Buddy. Can't you find somethin else, like death or taxes or somethin? Link to comment Share on other sites More sharing options...
GTNWORSE Posted April 21, 2004 Report Share Posted April 21, 2004 Perhaps I'm in denial, perhaps it's because it's how I've made my living, perhaps it's because I own a home that's gone up considerably BUT I still do not think that the bond market has turned, and will not until we close above 4.5% on the 10 year. Link to comment Share on other sites More sharing options...
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