The fact that many are closing out with this low volume is not a bullish sign, it probably means some of this price recovery has been driven by short covering.
Another 1m gross yesterday, so I am guessing they covered through 50c and are re-upping at the 67c range. Not enough to do big line wipes like they do on SYA to get their pip trades, but its something to note that there are people betting bit of money that 67c is too high. Of course, they have been wrong before, many times, but always something to keep track of.
The best thing that could happen for AGY right now is the spot price to turn back up, reverse back to 500k CNY could get some action and then the shorts would need some fast covering.
The fact that many are closing out with this low volume is not a...
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