<Does the market know something that you don't? >
Almost all the markets are now dominated by large speculative pools of money, who seem to operate by the same playbook. I believe most of their playbook is bogus, and that's creating big time off side situations. In the case of Cu, in Feb. they were too heavily long, so a shake out (now done) wasn't surprising. Right now they seem focused on the impact of rate increases and the slowing Chinese economy. I'm focused on something all together different, severe shortages. Maybe I'll just have to wait it out and see what the market "knows" when the combined LME, Comex stocks hit 140,000 (in a month), 70,000 (two months), or zero (in about three months). I have no problem with the little wait.
I have a large position in NTO, avg cost is 2.20, and they had excellent news yesterday, that was ignored.
Message 20242241
I have a smaller position in NXG, avg cost 1.38, and am long a pretty aggressive position in the futures, split between Septs, and Decs. I have a large position in RNO, avg cost 2.02, for a similar play in nickel. |
