Nickel dropped about 3.7% today, going from $5.98/lb. to $5.76/lb. according to kitcometals.com. Other than being a quiet day before a holiday, I don't see anything to account for this big of a drop in a single day. The problem with quiet days is that individual traders might be able to push things around more than they usually could. I just bought some more .999 Canadian nickels yesterday and will look to add even more based on the price drop...if I can find them.
Also, I noticed that copper, lead, zinc and aluminum didn't go down sharply like nickel did. So I am suspecting this could be a trader trying to manipulate things to make a quick profit on an otherwise quiet day.
Nickel Dropped About 22 Cents Today
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Nickel Dropped About 22 Cents Today
by Recyclersteve » Fri Aug 31, 2018 5:23 pm
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
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Re: Nickel Dropped About 22 Cents Today
by AGgressive Metal » Sat Feb 16, 2019 4:22 pm
The thing with is nickel is that in the old days, it was only sourced from a few places. Virtually all the production in 1950 was from North America and Europe, with Australia being a distant third at a mere 2.9% share of global production. Fast forward to 2013 and Asia is producing more than North America and Europe combined! And major production is also now taking place in South America and Africa. It turns out that there's just more source locations out there than what used to be assumed.
And he that hath lyberte ought to kepe hit wel
For nothyng is better than lyberte
For lyberte shold not be wel sold for alle the gold and syluer of all the world
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For nothyng is better than lyberte
For lyberte shold not be wel sold for alle the gold and syluer of all the world
-Aesop's Fables, Caxton edition 1484
http://stores.ebay.com/commonwealthcurrency
http://www.ebay.com/usr/pdx_metal
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Re: Nickel Dropped About 22 Cents Today
by 68Camaro » Mon Feb 18, 2019 8:07 am
I hadn't kept up with the latest supply info - had no idea those other sources were in operation at such a significant level.
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The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
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