Looks like the $1.10 drop is not on anymore. This reaction was expected as I posted before as some of the Chinese port traders used iron ore as borrowing colateral and when one of them needed to cash out the price would overshoot in the negative for a few days.
If this co would have droped to $1.10 it would have been on a PE of about 3, some wishfull thinking but would not have been surprised as I did buy in the 60c region before but under different market conditions.
Not much activity on Hot copper for IO COs. I guess everyone is content for now I for one still want to see ARI back in the $1.80 $2 range before I consider diversifying out of it as there is no other higher potential out there in my view.
ARI Price at posting:
$1.38 Sentiment: ST Buy Disclosure: Held
