Auch hier wieder: Massive MANIPULATIONS-Vorwürfe gegen den WaMu-Gegner
J.P. Morgan CHASE. - Außerdem die zarte Andeutung, dass diese mit Staats-Knete gehätschelte Bank ihre unter Manipulations-Vorwurf stehenden SHORT-Positions
in Silber demnächst verkleinern will...
Friday, 17 Dec 2010
JPMorgan cuts SILVER short, denies 90pct COPPER data
"Reuters reported that JPMorgan's commodity business was uncomfortably in the spotlight on both sides of the Atlantic on Tuesday amid reports it had amassed a large copper long position and was unwinding a big silver short.
While analysts and traders have said that both positions could be tied to the bank's large customer trading business rather than any proprietary strategy, the reports have placed the bank in the public eye at a time when US and European regulators are cracking down on commodity market concentration.
A source familiar with the matter said that the bank, which joined Goldman Sachs and Morgan Stanley at the top tier among commodity traders with the acquisition of the
RBS-Sempra operations earlier this year is reducing a large position in US silver futures.
In Europe, data from the London Metal Exchange showed that a single entity had increased its control over warehouse copper stocks and cash contracts to more than 90 percent up from 50% to 80% holding reported for the past several weeks.
A spokesman for JP Morgan which had been reported as holding the 50% to 80% position denied that it held over 90% of stock warrants, but declined comment on whether it had a dominant position of less than that.
The source said that the company's silver futures positions would be materially SMALLER in the future. In October, JPMorgan and HSBC Holdings Plc were hit with two lawsuits in late October by investors who accused them of CONSPIRING to drive DOWN silver prices and reaping an estimated hundreds of millions of dollars in PROFIT.
Open interest in US silver futures SIc1 has declined by nearly 20% since November, while prices have surged to 30 year peaks, trends that market analysts say suggest that short covering has helped fuel the gains. Prior to November however, open interest had risen suggesting bullish longs.
JP Morgan and HSBC were accused in the lawsuit of manipulating the market for COMEX silver futures and options contracts from the first half of 2008 by amassing huge SHORT positions in silver futures contracts that are designed to profit when prices FALL"...
SOURCE / LINK / QUELLE dieses Ausschnitts aus dem von Reuters gesourceten Artikel:
steelguru.com/metals_news/...ies_90pct_copper_data/181281.html
Den Vorhang AUF, der Krimi geht weiter...