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May 10, 2006


How to Lose Several Hundred Million Dollars

Fade this trend:

HG

China Settles Most Losing Copper Bets, Traders Say

China covered the losing bets by delivering copper into warehouses monitored by the London Metal Exchange and by settling in cash … Copper in South Korean warehouses monitored by the LME, the most probable destination for Chinese shipments, has increased 16-fold in the past eight months to more than 100,000 tons.

Related:

Copper, Phelps Dodge, and the Elusive Liu Qibing

The Squeeze Goes On (Sung to the Tune of The Beat Goes On)

Checking Up on the Liu Qibing Squeeze

This entry was posted on Wednesday, May 10th, 2006 at 11:49 am (utc+8) and is filed under Trading and Investing.

4 Responses to “How to Lose Several Hundred Million Dollars”

  1. okl said:
    May 10th, 2006 at 4:27 pm

    No way! The trend is your friend! Nice trading blog!

  2. John said:
    May 11th, 2006 at 2:53 am

    Don’t they know, “you can’t keep a squirrel on the ground.” :)

  3. Gold global perspective said:
    May 11th, 2006 at 5:12 am

    The faster and higher it goes the better it is for the long term supply; aren’t hedge funds a wonderful invention ?

    http://cmd-chart.blogspot.com/2006/04/copper-futures-comex-hg.html

  4. C. Maoxian said:
    May 11th, 2006 at 5:23 am

    Ggp: I think Buffett got it right when he recently said:

    “… in metals and oil there’s been a terrific move. It’s like most trends: At the beginning, it’s driven by fundamentals, then speculation takes over. As the old saying goes, what the wise man does in the beginning, fools do in the end. With any asset class that has a big move, first the fundamentals attract speculation, then the speculation becomes dominant.”

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