Imho there will be many seeing a market pullback as likely and healthy, but will hold regardless. These will be the folks that see a longer term story, want to be in for the next leg, and do not wish to realise a tax liability, just to buy back in later.
Can't see too much long term weakness in either Cu or Au, and suspect that is enough of a consensus view that in a creditworthy world neither will be allowed to retreat too much. The Chinese imho will not be wanting to see more Cu projects delayed or cancelled, and will act as price stabilisers when required to.
EL
PNA Price at posting:
$2.55 Sentiment: LT Buy Disclosure: Held
