Very strong close on Friday finishing well above the days VWAP on strong volumes after a weekly shake out, and in the wider context, when other nickel players got belted hard. Certainly nothing in the LME prices drove the SP up that is for sure.
If a rival bid is to emerge, it will be this week in my humblest of opinions, so I will be watching closely for a break out in volume and price. The aforementioned strong close into the weekend on what was a very dark day for ASX and nickel plays has got me a little excited.
Looking at IGO shorts, they are pulling right back, whilst they are increasing against WSA who just announced a strong result in a 38% profit increase. Looking back, the same thing happened to IGO when news of the merger leaked. Interesting.
Best of luck to all this week, just got a feeling it could be good.
SIR Price at posting:
$2.71 Sentiment: Buy Disclosure: Held
