I'm not sure what it is. I think it is too much for the sake of a dividend, too much for the current price of Ni, and too much given the lack of interest in NIU. Is it too much for the anticipation of a bit of easing around the world?
I recall David guessing that the price of Ni would recover by 2014 but that the SP would probably improve well well before that.
Not sure, but I seriously thought about picking up more when it was sub 60. That would have been looking good right now.
MCR Price at posting:
71.5¢ Sentiment: None Disclosure: Held