re: looking strong
The biggest influence on the SMY price over the next few weeks is likely to be the nickel price. Is currently soaring on expectation that Falconbridge in Canada will go on strike. If they dont strike the nickel price will drop as there is already some expectation that the strike will occur, if they do strike we could expect to see the ni price go even higher. hence the forecasts round atm of US$20,000.
If SMY wins the WMC asset it throws unknown upside into the equation as winning the bid is only the first step. The market then has to take a view on the price paid for the asset. However I believe there are a dozen or so companies in the bid process so the odds of SMY winning are only moderate....???
my views only
acturtle
SMY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
