RE:Short cover mathnofluff wrote: Strike my former post. I even used a calculator. At today copper price, it would only cost shorters one or two billion. That is pocket change for those guys. They got 10% covered. That drove lme price up to comex. They need another 100 thousand tonnes of physical to get the short long paper balanced.
That should drive prices up another 10% to5.75.
Then it becomes a paper battle, how much the longs will accept from the shorts. As physical inventory drops, price goes up. So shorts have a couple months to buy 100 thousand more tonnes of physical copper and 700 thousand tonnes on paper.
I expect at least 10.00 a pound copper by Sept.
By then, it should have cost shorters around 10 to 20 billion.
Strike your last post you say? We strike all of your posts, no need to remind. $10 copper by September, 20 bags in Ncu quick, 70 bags altogether, bags here, bags there, bags everywhere! Copper at $5, NCU at 9.5 cents, BWCG taken over and stripped of its cash at a near all time low after losing 90% of your stake, out of Taseko on its rocket ride over $3. Yuuuuppp, you sure know how to call them.