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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 47.99

+3.2%

Dec 8 4:00 PM EST

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From: The Barracuda™	3/22/2007 10:51:01 AM
	of 207265

Chinese company seems to be caught in a nickel short squeeze RIO (NYSE) anyone?" Thursday, March 22 Indications at 7:50 am CST show nickel selling up by $.19/lb . What an interesting morning! News out of China is much different today than we heard earlier this week. Substitutes for stainless steel down, demand for nickel up, production of stainless steel up, and oh by the way, if the Metal Bulletin report is confirmed, Jinchuan apparently gambled that the market would be down now, and went short, so they may have a little bit of motivation for getting angry earlier this week. (Kind of like screaming "cheater" at a card table you just can't seem to win at. - We haven't been able to confirm this report yet, but when we do, we will do our "we told you so" dance.) There is really nothing holding the market back now from resuming its climb, unless the wind has been taken out of the sails of the traders for the time being. So far the market is up, but very timid. (more - "Nickel Snaps 3-Day Drop as Supply Remains Tight; Copper Gains" - here

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