We present results on the clustering of 282,068 galaxies in the Baryon Oscillation Spectroscopic Survey (BOSS) sample of massive galaxies with redshifts 0.4<z<0.7 which is part of the Sloan Digital Sky Survey III project. Our results cover a large range of scales from ~0.5 to ~90 Mpc/h. We compare these estimates with the expectations of the flat LCDM cosmological model with parameters compatible with WMAP7 data. We use the MultiDark cosmological simulation together with a simple halo abundance matching technique, to estimate galaxy correlation functions, power spectra, abundance of subhaloes and galaxy biases. We find that the LCDM model gives a reasonable description to the observed correlation functions at z~0.5, which is a remarkably good agreement considering that the model, once matched to the observed abundance of BOSS galaxies, does not have any free parameters. However, we find a deviation (>~10%) in the correlation functions for scales less than ~1 Mpc/h and ~10-40 Mpc/h. A more realistic abundance matching model and better statistics from upcoming observations are needed to clarify the situation. We also estimate that about 12% of the galaxies in the abundance-matched sample are satellites inhabiting central haloes with mass M>~1e14 M_sun/h. Using the MultiDark simulation we also study the real space halo bias b(r) of the matched catalogue finding that b=2.00+/-0.07 at large scales, consistent with the one obtained using the measured BOSS projected correlation function. Furthermore, the linear large-scale bias depends on the number density n of the abundance-matched sample as b=-0.048-(0.594+/-0.02)*log(n/(h/Mpc)^3). Extrapolating these results to BAO scales we measure a scale-dependent damping of the acoustic signal produced by non-linear evolution that leads to ~2-4% dips at ~3 sigma level for wavenumbers k>~0.1 h/Mpc in the linear large-scale bias.
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