Daily Speculations

The Web Site of  Victor Niederhoffer & Laurel Kenner

Dedicated to the scientific method, free markets, deflating ballyhoo, creating value, and laughter;  a forum for us to use our meager abilities to make the world of specinvestments a better place.






Write to us at: (address is not clickable)

The Chairman
Victor Niederhoffer

Metals Meltdown

Yesterday's shocking decline in copper is a pilot fish, reminder, and cautionary tale. What deep, dark secrets and impact such a move must have had on the producers, traders , and users involved in this most basic of international commodities. "Yesterday's decline took copper prices below their one-year rising trend, according to technical analysis charts used by some traders to predict price moves. A line drawn through a one-year chart of copper prices and touching all of its low points suggests the price would have been supported at about $2800.... Metals prices have been forced to unrealistically high levels by short covering of speculative positions and a recent bout of fund buying amid a background of strong global demand," said John Meyer, an analyst, according to an Oct. 14 Bloomberg story. Apparently the worst-selling book Practical Speculation did not have much impact on the above story and/or Jack Finney's people have made substantial inroads in computers.

For more of Victor Niederhoffer's writings, click here>>>