Tomorrow is likely to be a buy day. I will take a price view today as everyone knows my mid to long term very bullish view fundamentally.
1. Volume on sell (looks like shorters to me given price action) is declining. Testing of sell pressure is stumbling. Even though we are at .45. 2. Expect a test of .44 (don't worry on the logic of this, think of it as big instos/shorters playing games out) A 42.5 is possible but very short lived. 3. Derisking of DFS might have more impact that people think. Be prepared. 4. Hanlong is a player now. This is serious money for serious return. 5. What will the competition among the 4 steel mills do?
Risk/Reward - always think of this as the way.
We cannot affect the stealth of major broking houses selling infinite shorts or longs, but, we can take a step back and not get caught up in the games. I think that is the way forward.
Fortune favours the brave.
SDL Price at posting:
45.0¢ Sentiment: LT Buy Disclosure: Held
