Media Reports, page-2325

The SP has been under the control of shorters for about 10 months from a fundamental aspect not technical. The fundamental reason is lack of revenue caused by a major EV price war. The Chinese switched to a higher synthetic graphite mix in the anode because it is currently cheaper for a number of reasons than natural to lower their production costs during the price war. The word is, most of the Chinese graphite AAM producers are running at a loss.

The shorters will back off and begin recovering their short position around the time the Vidalia 11.25kt plant is built. Just before or after will depend how fine they want to cut it. They're in pretty deep but JP Morgan don't have to buy all the borrowed stock back. They can use their own holding of SYR to cover some it. They use their own holding as a safety net just in case the SP zooms back up. The completion of Vidalia isn't the only fundamental reason we are waiting upon to turn the SP around/get JP Morgan to stop.

Once the SP does turn around, your continued technical analysis will come in handy. Our usual technical analysis expert, who was very good by the way, moved on 6-8 months ago.