Yes, the zinc price has pulled back along with all commodities.
Rising USD.
Also the other Zinc stocks you guys mentioned last week which had CR.
If your shares have doubled (irrespective of underlying discount to project value) the market, might think CR.
The market also likes a profit in troubled times. The big sell off, anything in profit is a target to balance the losers.
Also that long period of low prices, means accumulation and volumes for profit.
That foretold future price of Zinc to rise to the stars. Great. And i like a re-rating that is built on fundamental imbalance of supply demand. However, there will be a portion of the market that looks at the here and now, and it has seen zinc retrace back into that channel i was describing. This project requires higher zinc to get it off the ground, otherwise it would have got it going somewhere in the last 5 years.
The last GFC we saw demand destruction. How long until the markets fall into complete correction.
You dont expect a little speccy to rise its head up, when fear abounds?
Only those with compelling cases will hold their ground in such cases.
Type in XJO, XAO, and the AUD/USD, and the USD index.
There's just a few thoughts.
Do you fellas remember what a correction is? or did you live through the GFC crash? Speccies didnt stand a chance.
How long has it been since we have had a major correction?
I sincerely hope that we are not in that territory, but jitters are jitters.
cheers
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