GREY:SXRZF - Post by User
Post by
LouEon Nov 02, 2012 3:34pm
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Post# 20556635
lots of volume, lots of down
lots of volume, lots of down looks bearish allright. Now that its lower than the last time earnings were reported, I have to wonder if another rally on bad news goes ahead...I'm sure many are hoping to ride a 3 day up curve, but My money is on a sell off on 3 bad earnings in a row, lowest spot price in 2 years, weakening demand causing producers to reduce future output amounts, and of course incteasing supply/inventory, as producers hope to sell later for more, but get squezed with falling spot.
When supply/demand gets mesed with, the correcyion allways goes past centre. So if reasonable is 45/pound, expect to see 39/pound before a reversal comes close.