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Strategies & Market Trends : Ride the Tiger with CD
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To: Canuck Dave who wrote (53529)6/1/2006 4:15:08 PM
From: Louis V. Lambrecht  Read Replies (1) of 312623
 
Fwiw, Calyon Financial asked for delivery for 15707 contracts, forcing HSBC to also ask for delivery.
Some 27388 contracts were stopped on May 31, one third of the known reserves of the Comex.
I am running several scenarios, trying to understand what this would mean on the POG.
Only sure thing, there will be less underlaying to trade on.
As long as the market does not backwardates, the futures will keep running on "paper" with a negative impact on prices as the market shrinks.
Anyway, first domino.
Next will be traders asking to show the money first and care less of promises in the future (= backwardation).
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