Seems there is much panic when a stock doesnt continue to defy one of Newtons most fundamental laws.
I have no doubt that recent activity on NKP is due to controlled buying - i've been involved in this industry long enough to see - and you will probably see a notice soon indicating that buying has been going on.
NKP is on the radar now - and most instos know that to begin their buying when the news (ie; Xstrata taking hold) is out, it will be far too late. So, conversely, if the news is bad, watch the instos dump NKP like a sad sack of ....... In any case, i would think this is hardly unlikely.
So what's been happening to cause the price retreat - well for starters, the DOW has been hammered recently losing almost its entire 2009 gains. Talk of an asset bubble in china popping is also making some way into the media (although this has been here for quite some time) - sometimes the media like to recall a faithful chestnut on a bad news day.
Personally i cant see too much that has changed fundamentally or from a strategic perspective for NKP - i have no evidence of it. Price of platinum still strong, demand getting stronger. ETF funds causing the squeeze that will plump platinum like a ready made chook in the next 12-18 months.
Sure, there is plenty of conjecture for the negative, but if you play that card, then i also can play my conjecture card for the positive too. But i'll stick to the facts.
So i would think this is merely a technical retrace. It would still need to get oto 53.5cps to only be a 32% retrace on the LT Fibonacci from its recent low to high run. So this is a nice trader dusting before its next natural phase - and there is news to come this month.
Stay tuned - "be aware but not alarmed..." Couldnt resist that last line
NKP Price at posting:
56.0¢ Sentiment: Buy Disclosure: Held