directors loaded up on black friday 10th, page-26

Jojo,

With nickel it can all happen so quickly. Somebody cuts 30ktpa, or the LME stocks rise gets better explained.

I never trusted LME stocks, simply sufficiently small to easily rig, and so many other larger inventories between mine and SS maker. Doubly unreliable atm, as you don't know what hedge funds were holding secretly (and now unwinding?), Glencore is a mystery but always a big nickel participant. Add the credit cruch must be forcing many buyers to run down inventory rather than buy. Of course in a falling market everyone likes to defer their nickel purchases as long as possible to buy lower.

Not sure we are a no brainer yet, we might have seen WSA lows, then again? Then again who knows. But once people do start buying nickel stocks again, the bargain hunters, industry players, Chinese, whoever, it will be quality first. CY010 for 30ktpa of bottom cost quartile nickel, and that might get better, this is a high newsflow company. What if we find another golden quoll? WSA will be a no-brainer at some time soon imho.

I am atm the hedging my bets on WSA, rather than at backing up the truck phase. Atm I am only interested in two hard rock resource stocks, IGO and WSA, plus perhaps FMG. Waiting for the dust to settle before looking again at any others. Will review the response to cost squeeze in the QRs of a few others.

One thing we know for sure, overshoot works both ways. We also know emotion and momentum can drive the swings hard each way. Never seen more panic. I guess WSA not hitting new lows yesterday was a somewhat positive sign?

EL