Sadly, Elon Musk may know more or have influenced Trumps plans in ways we have not considered. As a result he may or may not take up the agreement. I suspect as well that there is a large stockpile going on from Chinese producers right now in anticipation of tariffs. However it does seem like the SP is slowly increasing overall. I think most of the bedwetters have been shaken out and sold. May just be my imagination but I sense that my initial estimates that shorters may push this down a bit more is probably wrong. Every day that we get closer to inauguration of Trump the risk for shorters gets higher. I would not be surprised if by 20 Jan there is virtually no short position. One way or another in another six weeks we will know. I do not think that shorters will get burnt unfortunately. They still have time to exit the market knowing they have a hard shoulder they need to meet.
SYR Price at posting:
24.8¢ Sentiment: None Disclosure: Held
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