Replies to post #8525 on Wolverine Resources Corp (WOLV)

[alj14]

Thanks for that upbeat citation from London. It is hard to remain skeptical on copper, at this point. Only that explains the current price of $6.00 for Wolverine shares, LOL.

John Nadler, who began his comments insidiously yesterday with "don't look now, but there is a warm-colored metal that has gained 28% since the start of 2010" had his say on this yesterday:

Gold started the midweek session with a $1.90 per ounce gain, being quoted at $1,387.40 on the bid-side, as against a reading of 80.55 on the dollar index and a 35-cent rise in crude oil (to $90.17 per barrel). The yellow metal did receive one bit of possibly supportive news, in that the IMF announced that its disposal of 403.3 tonnes of bullion has now been completed.

[...]


Meanwhile, don’t look now, but there is a warm-colored metal that has gained 28% since the start of 2010 and it is…warming the hearts of investors. Not what you think, however. What is it, you say? It is…copper. Yes, a wonder metal that appears to have no limit in upside price potential, that is, if we are to listen to… assorted investment firm spokesmen. Why, just yesterday it was reported that a “single trader” owns some 80-90% of all the orange stuff being held at the LME Warehouse (one whose last name is possibly “Morgan” and not “Hunt”).

What’s next? Why, of course, the obligatory launch of a purely copper-oriented…ETF (which means, more of the same; the growing pattern of off-exchange hoarding of metals and other “stuff” by non-consumers of same). There are now nearly 1,000 ETFs of various kinds on the investment scene (and more on the way. A good thing? Hmmm. The answer depends on the person being queried. At the extreme end of the respondents’ spectrum are the critics who allege that ETFs may be used to manipulate market prices. Then, there are those who merely observe the facts, but do not draw much more encouraging conclusions:

[...]

And now, for something completely different (though also completely predictable); more regulation, coming to an investment theatre near you. Starting on January 1st, the average US equity brokerage firm will track (and report) the price an investor pays for a stock (or that share of gold ETF). No more ‘fuzzy math’ when it comes to reporting the gains on a share. Cost basis reported? Check. Sales proceeds reported? Check. Result? Send that check (for the cap gains taxes) to Uncle Sam. Can similar reports be far behind in the commodities’ niche? Probably not, and you may consider yourself as having been alerted.

Until tomorrow,

Jon Nadler
Senior Analyst
Kitco Metals Inc. North America

* * * * * * *

If JPM have begun to close out of their huge short positions in silver (after years of wallowing in them) and are becoming rabid copper bulls, those are huge/historic turnarounds. Maybe it's never too late to learn – as long as the show on the road is called Mongan... Mangan... Margin... Morgan (JP). Even a Morganatic marriage with the two upcoming star performers (silver and copper) might be a sign of better things to come, even for those who might appear to be destitute.

[jrlsss]

All we need now is for the IP to show lots of copper. Let's hope for the big one.