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Chemical & Mining Co. of Chile Inc. Message Board

  • happyperson_1 happyperson_1 Aug 28, 2013 8:33 AM Flag

    New 4+ year low.

    It continues to fall with no support. Price has collapsed in the last 11 months. Obviously the big short has found it easy to continue dropping price.

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    • It was up almost 7% today strapper!

    • When it comes to the float, read some of acadianwarrior 's notes below. It gives you an idea of the problems trading the stock, but perhaps makes for a good opportunity. For these reasons, I think of this as a side bet on the Potash issue going on now and I believe that POT is the best vehicle. Like Soros said, "buy the best and buy the worst" so perhaps POT and IPI, not SQM which is just and f'ed up situation. The lithium portion of the play does make it a little more interesting in my mind. Also if you believe that the stock is going to $150 then you don't need much do you? You can also add on strength and not get caught averaging down.

      Sentiment: Strong Buy

    • I don't think there are many shorts in this stock. What you have here is a foreign stock with a relatively large market capitalization compared to the float........and someone liquidating a good bit of stock into the earning report. The had to drive it down to find bids; end of story. It seems to be trading much better now and these next few days are key. On the other hand, if it keeps going down a $1 or $1.50 a day, we'll have a real buying opportunity on our hands. I'm long small and just started a position the last few days.

      Sentiment: Strong Buy

      • 1 Reply to cunyhound
      • There are lots of shorts. The shares are very hard to borrow, I tried and they want big money to borrow. This is confirmed by the extremely high volatility in the puts. There will be a lot over covering in this before month's end because this is the end of the quarter and funds will want to close this short position soon. The stock had a 3 month rsi of leass than 1 going into September which is almost never seen without a huge short position.

 
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