CL001 sell some metals and reinvest in HBM?
That's spooky. I sold some metals and added to my HBM position today as well.
My thinking was that HBM has been in a holding position for a long time now. Copper and zinc prices can go up, inventory levels go down and it still hold it's trading range. I know a lot of people have been trading it for the last while (not me, wish I had the time to do that) because it was so predictable.
Either the traders own this stock and are holding it in the trading range or people are not expect great results becuase of the low copper an zinc price during the first qtr or someone is accumulating and keeping the price range bound so they can accumualte as much as possible prior to a buy out.
Not sure what it is but it seems to me that no matter what the scenario, HBM can't be held in this trading range forever so the price will be moving north (at least 25 from what I can tell) sometime soon.
However, a correction good take it south. With such a low P/E and good fundamentals, I don't see it falling that far if that did happen.
Have fun!
JFF7
It's better to be out wishing you were in than in wishing you were out.
"Markets can remain irrational longer than you can remain solvent". - John Maynard Keynes
