1. Price dropped because a Chinese nickel miner who has nothing to do with NIC hedged against the Nickel price causing it to sky rocket to $100K and then quickly retreat back to lower levels - Result: Bad for NIC's competitor, great for NIC
2. The sheeple who trade in the ASX said "oh no's! One of NIC's competitors is doing badly... this must mean NIC also must be doing badly!" - WRONG!
3. Nickel Price is at a 10 Year High even after the spike pull back. In fact most of the last quarter NIC was selling the price average would have been well over $25K... and even now it's $22K and that's in U.S DOLLARS
4. Australian Dollar is down on the U.S Dollar since April and we get paid in U.S Dollars... Cha Ching!
Yes I'm topping up. Yes the "experts" and "market trader geniuses" who have been selling down will get burnt tomorrow.
DYOR!!!
NIC Price at posting:
$1.06 Sentiment: Buy Disclosure: Held
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