I maybe talking through my hat but anyway it's just an opinion,...

I maybe talking through my hat but anyway it's just an opinion, my thoughts are based on fund managers and TA traders.

Yesterday I saw BCI hit $3.54 and thought here we go momentum is really starting to build because of such a great quarterly and what the quarterly hinted at regarding the project inventory results. However I then watched the price drop dramatically later on during the day, to hit $3.22 for a moment. For me it didn't resemble trading on BCI fundamentals, but rather how fund manager's and TA traders trade.

I reckon I'd know more about BCI than some of these fund managers.

The difference is, I'm very small time and my/our holding in BCI is for my family only. Some of these insto guys hold tens of Millions of dollars in BCI for potentially hundreds of people and IMO are making decisions on when to sell BCI these days based on their perception of China's future outlook. I base this on the fact that 73% of trades on the ASX are by funds, so they have some 'pull', and BCI's SP suffers badly when there's negative news on China.

If that's what they are doing than they are placing more credence on the fact that BCI belongs in the IO sector.

What if AGO had a bad quarterly and BCI had a good quarterly? That won't seem to matter to funds if they consider what's happening in China as more important regarding when to trigger a sell.

I bet if I rang one of these guys and said that BCI's mine life could on current information go from 7 to 20+ years (my speculation only). They'd want to know what I was talking about. I don't know if they could care, maybe they look at Macquarie research notes and they based their decision to invest in BCI on that information only. Perhaps they recently readjusting their figures in BCI downwards based on China's outlook. Even though the recent quarterly far exceeded the prior one in terms of cash and price. Maybe they are waiting for the updated BCI research notes and will once again re-value BCI ... probably dramatically upwards this time. Then they will buy back into BCI after re-valuing the numbers. Even though any of us could've done back of the envelope figures in a nana second on 29/04/13.

The other thought is BCI is no longer a technical trade. Most systems have asked punters to sell-out of BCI and move on. Once again this type of trader wouldn't even know that BCI is a IO miner.

These thoughts however contradict the fact that others in the sector haven't had near the same SP drop as boned pointed out. My only thought is that they on the most part have been so hammered recently that their SP can't go too much lower.