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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: marcos who wrote (35544)3/11/2007 4:35:56 PM
From: maxncompany   of 78419
 
People are looking at Ni and thinking $20 is not sustainable and we are soon due for a nasty 50% correction that will wipe out foolish longs. I've seen more than a couple people suggest that on SI alone. And they may be right. But I would throw out there as food for thought..............moly.

Moly ran all the way up to $40 +, before correcting and settling in at the current $28 area. And moly spent quite a few years around $4, did it not?

Keeping that in mind, and based on what producers have recently said about their 2007 outlook for Ni prices, and that Ni had to be slowed down in 2006 by an LME rule change made for the purpose of keeping Ni shorts from being wiped out...................I do not assume $20 Ni to be too high. It may prove to be so, but I don't see the preponderance of evidence saying so.
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