LOT now at the lows, down 10% for the day. If it finishes here or lower I'm convinced we still have dumb money to flush and/or shorts that are piling on. Either way I'm fine taking the other side of these folks. 90% of investors just rely on price for whether the news is good or bad. Most will be too lazy to listen to the CC and think it through. Eventually the analyst will raise target prices, but they'll get their clients in first.
These offtake agreement (w/prepay) really are a win/win. The alternative is that you "hope" that you can get some supply?
Only 2 hrs left. Looks like a close on the lows in Aussie land is likely and a further washout tomorrow to test the Japan crash levels maybe tomorrow if some of this doesn't reverse. Will be watching to see if CCJ at least shows some leadership tomorrow or if the physical funds can diverge more. |