re: Ann: 2013 half year report announcement a... I agree that...

re: Ann: 2013 half year report announcement a... I agree that shadow inventory shouldn't be taken too seriously, but it shouldn't be taken too lightly either.

Copper isn't rising anymore and won't much further in the face of rising inventory, lower China demand, and the end of QE. These are facts we see now and I couldn't care less about area 51. Maybe you shouldn't either and stick to facts.

And time has told. US markets are down 700 points in less than a week and the Fed hasn't even actually started to taper. What happens when they do?

Granted it's never fair to look at things in a prism, so OZL's one saving grace may be Fed a yield average of 3.4%-3.7% which might inspire a rather large rally in gold. In fact, I'd say it's almost a certainty as yields peak. Greece will need another bailout in early 2014, so where OZL might lose on copper in the interim - it will gain in gold and copper will re-balance itself as production is cut. We have seen this before - it is about to repeat itself.

Personally, I think OZL will survive and that they should clear as much CAPEX as they can, cut costs and wait.

I wouldn't sell it too hard - I'd hold if you have it and wait and see...