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

To: russwinter who wrote (23438)	12/16/2004 12:16:23 PM
From: Umunhum	Respond to of 110194

Interesting blurb about copper in the latest Ted Butler article. investmentrarities.com <Just a quick update on the copper delivery situation I mentioned last week. With two full weeks of deliveries now complete, there is still a larger open interest (and, therefore, short position) in the spot December delivery month than all the real copper in the COMEX-approved warehouses. This is unprecedented and it will be interesting to see how this situation is resolved.> Todays numbers: open contracts: nymex.com warehouse stocks: nymex.com 4063 dec contracts *12.5 tons a piece equals 50,787 tons of copper. As of yesterday there were only 37,749 tons in the Comex warehouses. I wonder how this is going to shake out. The shorts are trapped and the longs know it. There is a 5 cent premium on the December contract: futuresource.com I wish I had been more patient in trading my Dec contracts for March's.