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horgad
1000+ Penny Miser Member
USA
1641 Posts |
 Posted - 03/03/2009 : 14:21:30
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We just had the biggest drop in the LME copper inventory in about 4 months. Does this mean the top is in? Who knows, but at least it is a chance that the top is in...
That a heck of mountain of copper that has been built since somebody turned the switch off on the economy:
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Edited by - horgad on 03/03/2009 14:24:35 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/03/2009 : 16:34:55
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| CNBC was saying today that if copper can break out of $1.60 it could well take a big ride up. |
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Think positive. |
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natsb88
Administrator
USA
1850 Posts |
Posted - 03/03/2009 : 16:47:10
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quote:
Originally posted by Ardent Listener
CNBC was saying today that if copper can break out of $1.60 it could well take a big ride up.
I was just listening to that a few minutes ago. The guys on Fast Money seemed pretty excited about copper 
Cramer also said copper bottomed. He was pushing copper, gold, and silver today. |
Nate
The Copper Cave
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Edited by - natsb88 on 03/03/2009 17:18:14 |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 03/03/2009 : 20:01:53
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| Interesting! Thanks for the graph and info |
Copper Penny Investing
www.portlandmint.com |
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JP_007
Penny Sorter Member
USA
58 Posts |
Posted - 03/04/2009 : 17:59:58
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| Sorry if this is elementary but what is LME? (keep in mind im new to all this) and cramer has not been a real reliable source lately...if i can remember correctly he was bullish on bsc right before it plummited after receiving a call from a concerned client. take care all! |
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NiBullionCu
Penny Pincher Member
USA
168 Posts |
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natsb88
Administrator
USA
1850 Posts |
Posted - 03/04/2009 : 18:19:34
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LME is the London Metal Exchange.
I don't really follow Cramer but I happened to have it on that evening, and it was just nice to hear some people excited about copper. |
Nate
The Copper Cave
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marklarpants
Penny Sorter Member
USA
58 Posts |
Posted - 03/05/2009 : 11:35:48
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| what happens to the price of copper when the penny is discontinued and all the pennies are melted?! |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 03/05/2009 : 12:39:22
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quote:
Originally posted by marklarpants
what happens to the price of copper when the penny is discontinued and all the pennies are melted?!
That's what I hope happens. If that happens the copper we have stored away should eventually be worth several times face value. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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sumrtym
Penny Sorter Member
36 Posts |
Posted - 03/05/2009 : 12:44:44
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| Cramer is and always will be an idiot. Listening to him is like listening to a squealing piglet caught in a trap trying to reach it's mamas tit. |
Edited by - sumrtym on 03/05/2009 12:46:50 |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/05/2009 : 12:46:22
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quote:
Originally posted by marklarpants
what happens to the price of copper when the penny is discontinued and all the pennies are melted?!
This has gotten asked from time to time. Last time it was answered the answer was something like if all the US copper pennies were melted down at once it would supply the word with copper for a few days or a week or something. Of course, copper demand is probably a bit lower now, but in any case the effect on copper prices would be very small. |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 03/05/2009 : 20:25:08
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quote:
Originally posted by sumrtym
Cramer is and always will be an idiot. Listening to him is like listening to a squealing piglet caught in a trap trying to reach it's mamas tit.
He may be an idiot but I wish I would have listened to him last fall when he said pull your money out of the market. While I still had some. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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sumrtym
Penny Sorter Member
36 Posts |
Posted - 03/10/2009 : 00:36:38
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quote:
Originally posted by NDFARMER
quote:
Originally posted by sumrtym
Cramer is and always will be an idiot. Listening to him is like listening to a squealing piglet caught in a trap trying to reach it's mamas tit.
He may be an idiot but I wish I would have listened to him last fall when he said pull your money out of the market. While I still had some.
What, his usual hindsight predictions?
You must be logged in to see this link.
There's a good example. I could give you million more. But don't mind old Jim, every day is a new day with a new history on his show about what he's been saying, and he's always right.
Personally, I think his real calling is working on one of those shopping shows selling a pack of 50 knives or 30 swords. He tends to sound just like them. |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 03/10/2009 : 09:23:38
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quote:
Originally posted by sumrtym
quote:
Originally posted by NDFARMER
quote:
Originally posted by sumrtym
Cramer is and always will be an idiot. Listening to him is like listening to a squealing piglet caught in a trap trying to reach it's mamas tit.
He may be an idiot but I wish I would have listened to him last fall when he said pull your money out of the market. While I still had some.
What, his usual hindsight predictions?
You must be logged in to see this link.
There's a good example. I could give you million more. But don't mind old Jim, every day is a new day with a new history on his show about what he's been saying, and he's always right.
Personally, I think his real calling is working on one of those shopping shows selling a pack of 50 knives or 30 swords. He tends to sound just like them.
You must be logged in to see this link.
AS I SAID he may be an idiot but when he said on October 6th 2008, pull your money out of the market it was above 10,000 now it is at 6000. If I would have listened to him then our mutual funds would have been worth something. Now as the market drops through 6000 they are almost worthless, we have lost most of what we had. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/10/2009 : 15:53:20
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| The drop in inventories is now 8 days in a row and counting... |
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misteroman
Administrator
USA
2565 Posts |
Posted - 03/10/2009 : 22:58:02
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| a buddy and myself are putting in an ad buying for more then the local scrapyards |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/16/2009 : 12:53:15
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| It looks like the down streak ended at 10 days. So 10 days down and one up right now. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 03/16/2009 : 13:38:58
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quote:
Originally posted by marklarpants
what happens to the price of copper when the penny is discontinued and all the pennies are melted?!
Nothing. Copper markets are driven by many factors - the existance of old copper pennies being very low on the list. Discontinuing the penny will mostly save/cut slightly the demand for zinc anyway. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 03/16/2009 : 14:58:53
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| Were there any mine disputes or strikes over those 10 days? I would imagine that would have a big affect on the stock levels of the LME. |
"99% of all lawyers give the rest of them a bad name"
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silverhalide
Penny Sorter Member
92 Posts |
Posted - 03/17/2009 : 06:53:13
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No strikes just a big effort by the Chinese government to stockpile copper while it is relatively inexpensive in an effort to diversify away from their large amount of likely troubling foreign currency reserves and also have it on hand for their continued infrastructure build out. YTD they already bought 300,000 tons and tenative plans to buy another 600,000-900,000 tons.
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/17/2009 : 07:19:58
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Yep, what he said. The Chinese are hoarding copper and not just by the ton, like some members on this board, but instead by the 1,000 ton. So the Chinese are making the same bet that we are. Time to hoard some more and hope that the Chinese know what they are doing.  |
Edited by - horgad on 03/17/2009 07:20:54 |
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1945V
Penny Pincher Member
Canada
153 Posts |
Posted - 03/17/2009 : 08:03:10
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Expect copper prices to rocket over the next few years.
When all the alternative energy projects gain momentum, expect copper demand to rise significantly.
The following are a few of many applications will generate a hugh demand for copper wire and piping:
1) National electric grid expansion and upgrade
2) Wind turbines generators
3) Electric cars, hybrid vehicles and plug-in hybrid vehicles electric motor/generators
4) Transformers for chargers needed for electric vehicles
5) Solar cell panel wiring & control electronics
6) Geothermal tubing
7) Locomotive generator & wiring
8) Fuel cells
9) Copper is replacing aluminum in many electronic applications where superior heat dissipation is needed
10) Natural Gas piping |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 04/09/2009 : 08:59:20
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| Update: Copper inventory has been more or less flat for the last couple of weeks and there is still a long ways to drop to get back to where we were. The good news is we broke $2.00 a pound. The bad news is I don't think that it will hold long if the inventory doesn't start moving down again soon. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 04/29/2009 : 09:08:06
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| If you have not looked lately, it is probably time to take another peek at these charts. After being flat for a short time, copper inventories have resumed their steep decline. This is starting to look like a serious move. A bit more down from here and that inventory spike up that coincided with copper prices being crushed will have been chopped in half. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 06/01/2009 : 14:10:51
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Update: LME Copper Inventory continues to get whacked. I would love to see it get back to that 200,000 tons number where it was when the big price decline started.
The inventory decline is looking as steep and impressive and the upswing...couldn't ask for anything more. |
Edited by - horgad on 06/01/2009 14:11:19 |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 06/01/2009 : 14:38:04
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2.2867/lb 0.1157
Copper is moving up quickly. Probably due to today's market dynamics more than anything else though... Dollar getting smashed, high inflationary pressures, stock market up. |
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Drop in copper inventory
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