RE: RE: Here we go... Feedis, I don't think you should use Europe as a measure for WRN's potential, or future success. Also, $2.40 is NOTHING to WRN, given her potential in volatility. $2.20 is 10% away, and given the volume on the break out of the bottoming pattern, we could easily see the 200SMA at ~$2.50 (if the velocity of the breakout is maintained). I would sell the 200SMA, unless it broke through with serious conviction.
I think we're still in the very early stages of resuming a bull-market in commodities. You have to consider, this bull-market in materials (metals in particular) has nothing to do with an economy "firing on all cylinders". That is very much NOT the case. The bullishness comes from central banks buying bonds like crazy, printing currency, etc. which INFLATES the prices of hard assets (ie:metals), because the metals' resource base is not increasing like cash supply (liquidity).
You are not necessarily buying a "good economy", you are buying the effects of inflation--a very important concept. This time, it's not all "supply and demand", it's supply vs.supply.
~BT