From: Tazia Smith To: "jefiley [email protected]> Cc: Nav Gupta Paul Morris ' Subject: Re: Copper (bid 5275.71, +513.4k vs cost) [C1 Date: Tue, 01 Jul 2014 18:59:11 -0000 Milne-Images: unnamed; unnamed(1); unnamed(2): unnamed(3); unnamed(4); unnamed(5) Classification: Confidential Jeffrey - Can we take a level (5275 or $276?) to work n London market? Liquidity opens back up starting 8am GMT12am EST. Traders cannot take the naked flak now. zulassurixteescom loamy EP leavecossagenraseeweriosuakeir. uxo Oa01T201 • 0298 PM na comer ora 3275.7 I. •SII3Ak n call) lel Classification: Confidential Jeffrey - London and electronic mkt are both closed now. so rm wing to convince a trader to take this so you can be done (provided Its inline). Be right back with a level for you d doable... Tula Srnith Omit, Ines Chen, Pacer, VS De Sewn.> Inc De-whe Asea:S ‘Ma ate Mw tenni TN F e.er 12to (mai Paniaktu Perfonn From: 'PAW E '<kevarsiontarsi come To‘ Tx i StrietelebbcomeDBMERICAS. Dale 0701/2014 00.23 PIA SCOMCI Re: Cower tpd $2, 5 .sly 4k vs col) ICI take it On Tut, Jul 1, 2014 at 1:52 PM, Tazia Smith ca> wrote: Classification: Confidential Jeffrey - Positive momentum behind copper (3mo currently 7013, see chart below). FYI, DB traders want to see a close above 7050 before they consider this a sustained break-out. My view: take the gains and be done, work order -$276/MT. Indicative bid and charts below (recall: you initiated your position at $265/MT, 1250 MT on 4/7/14). Spot Ref: 3m $7.O3/MT Bid: $275.71/MT ($344,637.50, +$13,388 vs your cost), 15% Vol Mid: $285.60 ($357,000), +$25,750), 15.6% Vol The above is a DB bid. EFTA01193816