OUCH! That was a fast slide... Suffering from the "Victim of...

OUCH! That was a fast slide...

Suffering from the "Victim of your own success" this one... Last FY was a bumper year. Now that forward guidance is flat, seems as though the market did not like that... Smells like some high grading last FY (if it quacks like a duck so to speak... speculation on my part). Either that or there is something brewing that we can't see in the background. Last time I checked copper COMEX and LME inventories are still in decline and no huge numbers have hit the scene. So nothing to see there... Global slowdown due to trade wars starting to bite... maybe?

TA wise, we have a mini support level at $7.32 but I doubt it will hold judging by the strength of this lower move. My call is it will probably cut through that and find some resistance on the $6.85. Worse case probably $6.20 in which case backup the truck as long as the copper deficit holds...

Hope we get a good strike soon. I like this company now it needs a bit of luck and find more in the ground.