I and a few others are happy to trade BCI. Most just hold and whinge when it does not go up because it used to be $5.00. IO is a brave new world where over supply will be the norm for the next few years. In that environment there will always be punters to short the market when they think the price is too high. I rarely short and will only do it when the SP is ridiculously high compared to the value obtained from potential IO sales.
At the moment BCI is fairly priced in line with the Iron futures and other factors. I sold off a few of the shares I was holding because the price is not moving fast enough to create decent profits and the margin could be better spend on other opportunities.
When you read articles from the press, you need to read the bad ones as well as the good ones before you can make a clear judgement on where IO is heading. The future is really up in the air.
BCI Price at posting:
49.0¢ Sentiment: Hold Disclosure: Held
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