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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (46092)	2/8/2006 11:59:53 AM
From: benwood	Read Replies (1) \| Respond to of 116555

Do you have a listing for that home you could PM me? I'm curious to see if it was built by a friend of mine, who built my sister's home. Maybe I wouldn't be able to tell though.

To: Steve Lokness who wrote (46092)	2/8/2006 12:20:41 PM
From: mishedlo	Respond to of 116555

Details of the new ETF for homebuilders, XHB, can be found at link below. The top holdings are: Beazer Homes Sherwin-Williams Technical Olympic USA Centex Mohawk Industries WCI Communications Hovanian NVR Inc KB Homes Lennar Champion Enterprises Brookfield Homes Lowes Ryland Grp Standard PAcific Home Depot D.R. Horton MDC Holdings Pulte Homes Toll Brothers Meritage Homes All are about 4% to 5%. Yesterday it closed at a slight discount to NAV. It was not available for shorting at several brokerages yesterday. advisors.ssga.com

To: Steve Lokness who wrote (46092)	2/8/2006 12:57:53 PM
From: mishedlo	Respond to of 116555

China rolls over contracts on 50,000 tons of copper SHANGHAI (AFX) - China has rolled over some 50,000 tons of copper contracts in order to help staunch heavy losses caused by a Chinese government body's speculative trading last year, market specialists said. The State Reserve Bureau (SRB) managed to hold at bay some of the heavy trading losses estimated in the hundreds of millions of dollars by extending contracts on 50,000 tons, said Bonnie Liu, a copper analyst at Macquarie Securities in Shanghai, according to Agence France-Presse. While this was almost certainly a very expensive solution for the Beijing-based bureau it would cost less than delivering on the contracts at current record highs when they came due. Traders said that the SRB, which manages the nation's metal reserves, also delivered some 40,000-50,000 tons of the physical commodity since December to the London Metal Exchange's (LME's) warehouses. Estimates vary on how much Beijing owed, but dealers generally believe that the trading arm of the SRB was squeezed on positions totalling nearly 200,000 tons of copper. Analysts believe the outstanding 100,000 tons have been wound down. 'They delivered part of the copper last year when it was due, while it is likely that they closed out part of their positions recently as copper prices have kept going higher,' said Fu Qiang, an analyst at Maike Futures. The Chinese economy is a huge consumer of copper and is one of the main reasons behind record global copper prices that last week struck 5,000 usd per ton for the first time. On the LME the main three-month contract closed yesterday at 5,067.50 dollars per ton, while in Shanghai the main contract closed today at 47,550 yuan (5,906) per ton. For China the trouble began when reports emerged in October last year that government trader Liu Qibing had taken huge positions on short contracts -- selling copper he did not own in the hope of buying back his underlying commitments at a cheaper price later. Liu's disappearance stoked speculation the experienced trader who headed the Beijing-based State Regulation Centre of Supplies Reserve (SRCSR), the state agency contracted to execute trades on behalf of the SRB, was in trouble. To date there has been no news of Liu and at one stage the government even denied knowing him. 'No one has heard from him but he is probably just trying to stay out of the way after causing all those losses,' said Bonnie Liu. Although China has never thrown light on the incident, in December China Banking Regulatory Commission Chairman Liu Mingkang acknowledged the heavy price it had paid in recent trading debacles centred around China's National Aviation Oil and the SRB. forbes.com