I am buying for the longer term. Base metals up strongly overnight. The shorts are indeed having a ball. Zinc up 4.2% overnight, copper and others up strongly. I might as well buy a bit more now instead of chasing later on. It depends on your strategy thanasi.Market soft especially in the US, however things will change.Another strong metal price improvement will see things changed rapidly.Company reports have improved and balance sheets are strong. I agree it is not one for trade now unless you short. The reward is high if you go long and look at the down side risks. I bought a lot of base metals last year and still own them because I thought this was an opportunity. For me KZL is another opportunity to get in. Don't forget the top 20 shareholders that own 64% of KZL will probably get a few more at this level.Fund managers will also have to protection their position.Even with correction, the SP has already improved by 300% from last year. I think base metal is cheap now unless you want to pick the bottom.Why do you want to hold on now, if you think it is going to the low 30s. Why not sell out now and buy back later? You probably don't own the share and you are shorting. I am also buying other base metals beside KZL for the longer term.DYOR, KZL is not a share for the faint hearted.
KZL Price at posting:
57.0¢ Sentiment: ST Buy Disclosure: Held
