be fearful when others are greedy
be greedy when others are fearful
words of mr buffett himself
if u cant work out what implications this means to nickel
then oh well :D
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be fearful when others are greedy
be greedy when others are fearful
words of mr buffett himself
if u cant work out what implications this means to nickel
then oh well :D
Yeah I can't work out what you're saying. Are you bullish or bearish?Quote:
quote:Originally posted by Dazza
be fearful when others are greedy
be greedy when others are fearful
words of mr buffett himself
if u cant work out what implications this means to nickel
then oh well :D
Any short term chart of the pon will show some fear. Any medium or long term chart will show a raging bull market.
bullish a duh
at the moment everyone is damn fearful of Ni
so hense its time to be greedy and buy up :D
what u tink that all of a sudden we dont need steel or something
mind you im long term playing this game
I wouldn't describe the nickel market as full of fear.
Check out the charts Dazza. Nickel shares back to where they were only a couple of months ago. This is just a calm adjustment from over exuberance. Not panic.
Greed or Fear [?][?][?]
Dazza - "at the moment everyone is damn fearful of Ni"
Dam right Dazza. "FEAR"
It has happened recently with Zinc, Copper and nearly 2 years ago with Nickel. They all came good again.[:p]
The difference this time around, is that horrible word - Substitution ]"is used for sheet metal applications and has better corrision properties than Stainless with Nickel. If u do not believe it, read the Mining Chronicle"
Tech Step -"No Engineer will change something that works. If Steel can be made using overpriced Nickel then they will continue doing so."
Sec - "Engineers generally will NOT substitute 300 series nickel, either due to legislation or taking a huge risk on an untested alloy. Engineers do not like bad publicity, like failure of their equipment due to an untested or inferior alloy."
I appreciate where u are coming from Tech Step and Sec, I am not talking about pipe work, pumps, pressure vessels, tanks, etc. It has to been be high grade S\S, "the substitution stuff cracks upon welding" [xx(]
The substitution S\S is only good for sheet metal work. Like benches, kitchen ware, rubbish bins, fridge exteriors. appliance exteriors.[:p]
I can imagine the Chinese will be using it in every application possible.
The big Question - Will the Nickel price over correct and If\When will the bargins appear.
tricha
You seem to have turned really bearish on nickel/nickel stocks
And I understand that you have sold out of MCR ?
Personally I still consider nickel to have a bright future, but not to trade at the exceptional price of around USD $24 or so that it has reached
MCR for instance has a Ni cash cost of about AUD $6 so will still make very healthy profits at a Ni price of USD $12 or more
I have confidence in the price of both Ni and MCR (and other efficient Ni producers as well)
in the medium to long term
Time will tell of course
Your judgment is usually spot on but I hope that my optimism is right in this case
I consider it to be very unlikely that Ni will drop below USD $12 in the future
There will, I believe, be a high demand for Ni together with limited supply
Dazza - "be fearful when others are greedy
be greedy when others are fearful
words of mr buffett himself"
Tricha - "Oh and Dazza, heres a gem of a book u might like to read, "the WINNING INVESTMEMT HABITS of Warren Buffett & Georgr Soros, by Mark Tier"
I take it u have read the book Dazza [?][?]
Cheers [B)][}:)]
Whiteheron - "I hope that my optimism is right in this case
I consider it to be very unlikely that Ni will drop below USD $12 in the future "
I hope u r right to, WhiteHeron and yes I've been out of Nickel for a while.
Today at the end of trading I bought Sally Malay Mining, it has the goods and has under the radar of most people on this site, except maybe Dazza.
Just a hint of whats around the corner for them,
http://sa.iguana2.com/cache/0945f539...SMY-369166.pdf
aye aye captain :D
MCR is a solid hold for me, under $7 per pound to produce is great
IGO is my hedge for AGM - ie similar cost of production yet IGO is producing, but AGM isnt
SMY - well in it for a bit of difference :D
CBH is my only zinc exposure, have been deciding weather to sell that and buy PEM, but ill leave it as it is
ABARE - probably the best source of unbiased (and conservative) information about commodity forecasts.
http://www.abareconomics.com/interac...htm/nickel.htm
Confirms my thoughts that substitution possibilites will be very limited and nickel pig iron is a marginal industry which is now shown to be uneconomic at $15/lb Ni (ABARE predicted $12/lb Ni). Why has it become uneconomic with Ni at very high prices historically? Because 200 series demand is shrinking and/or steelmakers don't want to use it in 300 series steel because of its impurities????????
Oh, and ABARE also predicted over a month ago that US/EU steelmakers would draw on their Ni stocks in the September quarter. I just wish I'd read the ABARE report a month ago!
SEC