People tend to go with the trend of the market. Considering that most of the buyers on PNA are institutional investors, hedge funds, banks, and overseas interests, would you consider it wise to manage your investment according to what the demand for this asset will be to these players?
While I agree with you that PNA is a great company, the fact is that demand for copper will be wavering towards the end of this year. The Chinese machine is slowing, and change its demand structure from infrastructure to domestic growth. Surely you can see that this greatly reduces the demand for copper?
Its one thing to post on here when things are going well and all is dandy. But to rationalise the stock without any sentimentally and emotion getting involved is another thing entirely.
Just trying to give some perspective...
PNA Price at posting:
$3.18 Sentiment: None Disclosure: Not Held
