Yesterday it was Goldman Sachs, today it's JPMorgan hawking the prospects for copper. "Demand is...

This news story has 5 comments:

Register or Login to rate comments »

Tschurin Comments (265)
 
And just last week we were told of a "sharp decline in non-commercial net long positions in copper at the COMEX" and fears about a slow-down in Chinese demand. Who're your going to trust? ;-)
25 May 2011, 09:22 AM Reply Like

davidingeorgia Comments (2681)
 
Hmmmm...why does the phrase "pump and dump" come to mind after reading this?
25 May 2011, 09:23 AM Reply Like

kmi Comments (3844)
 
This one I totally think is pump and dump; I'm not always on board with the thesis that anything coming out of GS or JPM is the opposite of their positions but all the recent news on copper has been bearish.... and I don't believe the rolling over thesis.

If China, US, and Japanese economies are all growing at a slower pace, and copper imports are down from their last year pace in China something large, just doesn't make sense.
25 May 2011, 09:45 AM Reply Like

J.D.G. Comments (35)
 
Here is Goldman Sach's actual PDF of their Commodities call to clients yesterday:

mediafire.com/?x4x...

They are NOT bullish on everything and, in fact, reiterated their bearish pricing on, for example, Silver at $26.10 to $28.20 over the next 6 to 12 months. They actually have a price target of $24.70 over the next 3 months.

To each his/her own how they interpret the data! Goldman knows this!
25 May 2011, 09:44 AM Reply Like

J.D.G. Comments (35)
 
Sorry,

Here is the link for the PDF download of the Goldman call:

www.mediafire.com/?x4x...
25 May 2011, 03:23 PM Reply Like