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Gold/Mining/Energy : Copper - analysis
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To: Robert Douglas who wrote (1056)12/16/2004 3:10:13 PM
From: Umunhum  Read Replies (1) of 2131
 
<Would you broker have allowed you to wait this long?>

you're probably right. I don't want to hold copper. I was delivered on 3 contracts of silver last December on the first day of delivery for Jan contracts. The copper doesn't exist for the shorts in this instance so they're playing a game of chicken.

What make this so interesting though is of the 37,749 tons of copper left in warehouses, only 5,415 tons are available for delivery. So there is enough copper to deliver to 433 contracts out of 4063. The shorts are trapped and the longs should know it.

<When I got out of my Dec. contracts, I rolled them into July and picked up about 11 cents. Not bad for half a year's wait.>

I got 2 cents for Dec to Mar. How long are you planning to roll your position forward? If we don't have some fireworks before March I am thinking about taking my profits.
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