Subject re: nickel shortage means high prices/article Posted 11/12/04 01:23 - 2 reads Posted by hanrahan Post #453529 - in reply to msg. 453524 - splitview
Why so committed to nickel Tom? I can't think of any resource, including (unloved) sugar which I believe would be out of place in a thinking man's portfolio.
After oil, after nickel will be uranium. "We'll all be rooned", said Hanrahan.
"Before the year is out".
************ lol, I love sugar............(so sweet:)
Why Nickel??????? part chance, part fate, part intelligence.
I got heavily into Nickel early October 2003, I got into JBM July 31 2003.
I am a gambler & I often take chances on feelings.
When intellect supports the feelings I go in hard.
JBM in particular has seemed cheap to me for a long time.
Cheap because of, Low P/E, high dividend & none to minimal exploration success built in.
As I increased my holding in JBM many times over the last 1 year+ I knew I was going to get a big dividend & relatively stable share price irrespective of what happened to Nickel prices.
Small down side, potentially large upside.
The potentially large upside is yet to eventuate but the fundamentals never went away.
Over 1 year ago I thought Nickel could reach over $22,000usd/t($10us/lb) & I still believe Nickel can do that over the coming months.
Not due to fundamental demand but speculative demand.
Nickel is the most volatile base metal & who hasn't heard of poisedon??????????
I'm 30 years old, have no family, no dependants, I have nothing to lose except money.
Too be honest I never sat down & planned to get so heavily into Nickel & JBM in particular, it just happened.
JBM has just seemed like a bargain to me for a long time & a sure thing.
I could have taken profits when JBM was $5 Feb 2004, I didn't because I saw lots more potential.
JBM traded at $3.20 a couple of months later, no skin off my nose I was sure I knew which way the price was going due to fundamentals & potential.
Anyway, I remember reading hotcopper posters saying the Nickel Boom was over in April 2004 when Nickel was trading under $5us/lb.
Here we 8 months later & nothing has changed.
High Nickel prices, Nickel shortages potentially to last for many years.
My biggest worry with nickel over the last year was huge stock dumping by Norilsk.
They haven't dumped, they have nothing to dump.
Nobody has Nickel to dump on the market.
What I considered the most likely scenario over the last year has transpired.
I got plenty of 50% capital gains discounts & dividend yield that NEARLY provides a liveable income.
I've been thinking about Nickel for a long time.
Nickel still looks good.
JBM looks even better :)
I will take some more profits next year.
ummm, yeah.
cheers.
JBM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
