Bottom today was a bit over $700m MC
$150m wiped off from the top last Wednesday.
Do we think this was all BGL driven or just Cu having its pull back? Anything else?
Im thinking combination of both and a little media tariff scaremongering thrown in and there we go, shorts get their opportunity to cover as production train is steaming towards them.
trouble is there are 7.36m shorts held as of last Thursday and I doubt they have been even halfway covered off.
So what is the strategy of a shorter when production is imminent and the underlying commodity is still trading near ATH's ??
DVP Price at posting:
$2.67 Sentiment: Buy Disclosure: Held
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