Ichi - I hope you are right. Nickel dropped 16% since that post....

Ichi - I hope you are right. Nickel dropped 16% since that post. So you were right. Even if it falls down to your level of $4.30 (i.e. 25% drop), regardless of where the bottom is, it looks like we are at the bottom end of the cycle and is now ready for its bull run (I'm not saying the run will start now, it could start in a few months).

The reason nickel doesn't last too long in the $4's (or $5's for that matter) is that these low prices have a dramatic impact on supply. Many producers stop delivering nickel into the market because they will be producing at a loss, and with demand starting to step up for stainless steel and stock piles being eroded in China (the biggest producer of stainless steel), this will only drive up nickel price.