TSX:TECK.A - Post by User
Post by
DoubleManon Jun 22, 2009 10:15am
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Post# 16088462
7% drop...shorts are in control today.
7% drop...shorts are in control today.With over 40 milliom short shares ....it's no wonder that the stock is tanking today on some negative market news....
The stories are still circulating about China reducing demand of copper....if that was the case then copper supplies at LME would be showing that number...in fact it is not.....each day copper inventories at LME continue to shrink....as China and India help themselves with declinging prices....
Like I mentioned before ....by the time Europe and North America get their internal stimulus packages underway....the supply of copper is going to be limited and these countries will be forced to pay premium prices as China and India had grabbed the lion's share a reduced prices since the world is being told that copper demand is declining....typical ploy.
https://www.kitcometals.com/charts/copper_historical_large.html#lmestocks_6months
I have attached the Kitco link for the 6 month inventory chart on copper.....