This is now my 5 trade in ZFX since $4.86, first trade was at $3.30 just b4 it fell and I sold out at $2.95, but since then 4 profitable trades. Last one $7.02 (10K) and added to it Thurdsay at $7.49 (5K) and still alive.
Selling - not yet. As it has been finishing on it's high each time for last 4 days, with Zinc still going up, and LME zince stocks falling each day, unless something dramatic happens I can see $9.00......however Jan 30 is looming (which is 2nd qtr production reporting date). Last time ZFX reported it took at hit as costs were blowing out, and it reported lower production and as a result ZFX went no-where for about 1 month. So around that time I will need to decide whether I want to be holding on Jan 30.
The other issue that is looming is prices can not just keep going up vertically for eventually ZFX will enter exhaustion phase and the reversal could be very big. Large volume on a down day may indicate a reversal and then I will get out and sit on the side.
Cheers John
ZFX Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
