The Prospector News

Gianni Kovacevic – “Copper: The Big Short”

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article






Earlier today, Andy Home of Reuters put out a detailed article on record short positions against copper. Below is line from the article: 


“The big fund short is back, the money men flexing their bearish views on copper out to 91,547 contracts. That’s a new record, eclipsing the previous record short of 87,942 contracts in July last year.”


It is interesting to note that during times of extreme pessimism, speculators and fabricators augment each other’s efforts – that is to say, they’re both happy as they make more money (with falling prices) in their bearish views. However, when the tide changes, they become mortal enemies, as the actual end-users, the fabricators and manufacturers, trip over each other with the speculators pushing their prices higher and higher. 


We recall Winston Churchill’s brilliant comment about his change of tone once America had entered World War 2.  Paraphrasing: “Oh! That is the way we talked to her while we were wooing her; now that she is in the harem, we talk to her quite differently.”


The stage is set. Let’s see how these bearish bets unwind in the coming weeks and months. 


Posted June 11, 2019

Share this news article


Fortuna Reports First Quarter 2021 Financial Results

Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reported record... READ MORE

May 10, 2021

McEwen Mining Reports Upbeat Exploration & Delineation Results

Including true width intervals of 6.08 g/t Au over 25.7 m at Stoc... READ MORE

May 10, 2021

Imperial Reports First Quarter 2021 Financial Results

Imperial Metals Corporation (TSX:III) reports financial results ... READ MORE

May 10, 2021

McEwen Mining: Q1 2021 Results

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX)  reported its first qu... READ MORE

May 10, 2021

Cameco reports first quarter results, Cigar Lake restart and the continued execution of strategy to support global clean-air transition

Cameco (TSX: CCO) (NYSE: CCJ) reported its consolidated financial... READ MORE

May 7, 2021

Copyright 2021 The Prospector News