If you plot predictions made by ibank analysts on commodity pricing, you'll find that they're overly bearish than a randomly generated distribution. They obviously don't input growth in money supply into their models.
I hate it when instos like BlackRock/Fidelity/Vanguard jump on board. They're product orientated and they flog them to any keen ear. It's not really the insto jumping on and off, but the buyers of their products compelling them in and when they get bored, forcing them out. They market a product, people run to buy, buyers begin to thin, marketing stops, ... they market a second product, people rush to buy, people start selling first product... they're typical pump strategies to generate fee income for the instos... unfortunately, roughly 49% of individuals will believe the insto are kingpins of the stockmarket and will be milked a second, third, fourth, etc time.
Dumping by instos and shorting combination methinks. BCI and MIN are both supported by more independent funds, so they've escaped the brunt of the general public's liquidation of commodity/mining investment products.
AGO Price at posting:
83.5¢ Sentiment: Buy Disclosure: Held
