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DOOM,.+.,.+Copper Down 7% on the week. Precious Metals dropping+.,+.,

 
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10/19/2011 10:12 PM
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DOOM,.+.,.+Copper Down 7% on the week. Precious Metals dropping+.,+.,
Doctor copper that is. Because apparently someone forgot to tell China that "Europe is fine." As a result, over the past 3 days we have seen a relentless selloff in all risk assets and commodities when China is open (the weak GDP print sure didn't help), at time bordering on liquidation, but most notably in copper which is now down 7% on the week, and which in a feedback loop forces domestic speculators to sell anything that is not nailed down, due to copper's use a core Letter of Credit pledge. As a result, any drop in copper leads to leveraged selloffs in all other assets, which leads to even more selling in copper and so on. Perhaps the Beijing editions of the FT or The Guardian can promptly put an end to this lunacy, which can be ignored by vacuum tubes only for so long...

[link to www.zerohedge.com]

Last Edited by DL on 10/19/2011 10:12 PM
Nickadeemus

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10/19/2011 10:14 PM
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Re: DOOM,.+.,.+Copper Down 7% on the week. Precious Metals dropping+.,+.,
It's a copper haulacaust.

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10/19/2011 10:15 PM
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Re: DOOM,.+.,.+Copper Down 7% on the week. Precious Metals dropping+.,+.,
Spot prices on silver are real cheap... I feel crash coming... Time to back up the truck!
Nickadeemus

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10/19/2011 10:16 PM
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Re: DOOM,.+.,.+Copper Down 7% on the week. Precious Metals dropping+.,+.,
That's a carsh dog...

Frikin newb.
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10/19/2011 11:11 PM
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Re: DOOM,.+.,.+Copper Down 7% on the week. Precious Metals dropping+.,+.,
The badass gurus are saying silver in the teens soon and gold back to close to 1000......going to be a big shakdown some will sell some will buy,,,but all will be cautious going forward now because of the swings....this ride is over for now...if it gets in teens for silver I will buy! Real coins only!!!

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