highest close since march 2012, page-4

Actually the view that there is going to be a glut of copper is rapidly becoming the contrarian view. Morgan Stanley now joining Goldman saying oops we got that wrong.

Anyone watching warehousing at the LME and Comex could tell you there is no glut. Stocks at both have plummeted in the past six months. TGS makes plenty of money at $7000 a ton. Every $1 over $7000 is ~$30,000 straight to the bottom line. Don't even get me started about the AUD price of Cu.

Disclosure: Sold a trading parcel yesterday at 39.5 (some bills to pay) but am still overweight TGS and holding.


http://www.kitco.com/news/2014-01-17/Morgan-Stanley-Lists-Copper-Palladium-As-2014-Outperformers-Forecasts-1313-Gold.html?sitetype=fullsite