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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Activatecard who wrote (19898)	10/13/2004 1:46:28 PM
From: russwinter	Respond to of 110194

Yep, just doesn't add up does it? I don't think supply is the story, and really to justify $1.20 Cu prices in the 2005 contracts, I think demand must collapse 3% from here, and maybe closer to 4-5%, a depression by any measure. It could be happening, but if so, huge disconnect to the other markets, especially equities. I still favor the spike as I just don't see how the drawdowns can stop (and indeed there are no signs daily they have stopped, slowed yes, but not stopped), and inventories are already at critical levels. One could certainly arbitrage the two: short equities, long Cu.