Quote:
Originally Posted by heep223
I believe that the market was being irrational previously because it was so focused on the short term inventory glut, and now is acting more rationally and realizing we could be in an undersupplied market as early as this year.
There is a clear change in market behaviour here, and I believe it's based on fundamentals, though the consensus is short squeeze or whatever. I've been pounding the drum on this pretty hard. Still not locking in gains from the 20s, I personally think we could be back at $50 pretty easily by year end.
But, I know nothing. Nobody knows. Only thing is that when you get these extreme levels of sentiment, either high or low, they tend to overshoot.
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I think your right and we could possibly see it go higher this year.