Nickel: Opening stocks(tonne) and Price - Updated daily

Opening stock(tonne) and Price:

Date-opening stock-price:

FEBRUARY 2011

18
17 129924 28295.00
16 130248 28550.00
15 130248 28895.00
14 130422 28670.00
11 131112 27830.00
10 131898 28005.00
09 132330 28255.00
08 132936 27850.00
07 132828 28700.00
04 132798 28070.00
03 133500 27775.00
02 134172 27710.00
01 134442 27650.00

JANUARY 2011

31 134040 27070.00
28 134298 26820.00
27 135186 26795.00
26 134862 26150.00
25 134958 25750.00
24 135174 26265.00
21 130248 25850.00
20 137124 25645.00
19 137238 26190.00
18 137352 26355.00
17 137766 25985.00
14 136302 25460.00
13 136662 25720.00
12 135096 25060.00
11 135864 24590.00
10 136806 24045.00
07 136896 24340.00
06 137040 24870.00
05 136860 24640.00
04 136890 25170.00

Monthly Average: 25638.50

Since the peak of supply last January at 137766, supply has started to decline up to date. Supply has dropped by 5% since then, driving the price of nickel higher by 11.20%.

Supply and demand baby, Econ1. My college prof would be proud! :)
If I get lucky, I could probably make a line graph with this data in Metastock.
It's a shame though because I could only access data from the beginning of the year.

Filed under NIKL.

London Metal Exchange: Nickel

I probably should also monitor the supply of nickel stock daily to monitor whether the supply is increasing/decreasing. Had to dig a little deeper to find the info though. Daily price update first:



CASH BUYER 28,895.00
CASH SELLER & SETTLEMENT 28,900.00

Philippine Stock Exchange (PCOMP)

Looks like that the Index is poised to resume its downtrend in the short term.

Major resistance at 4000.

Aboitiz Power Corporation (AP)

It looks like that the bearish symmetrical triangle pattern has been invalidated as prices have already moved out of the apex of the triangle.

Pullbacks after testing 29.80 in the short term would probably provide a good window for entry.

Rally!

The index gained 21 points in today's session with relatively lower volume if we don't count the huge cross - again - in AEV. I think that the rally today is just another tech bounce and it would pretty much safer to expect the market to continue to drop in the short term.

Gains of FLI +4.76%, MER, +3.18%, AP +2.52%, PCOR +2.27%, AEV +1.73%, and SM +1.30% pushed the index higher today while PLDT -0.35%, and MBT -0.84% held up their grounds with relatively smaller losses in comparison to yesterday.

Other gainers with significant turnover are BEL +4.45% and DFNN +3.56%. Other losers with significant turnover today are led by JAP's ORE -5.34%, NI -4.63%, LC -2.27% and SECB -2.24% after they released their income report for the whole 2010.

Macquarie got rewarded after pushing PCOR yesterday.

It seems like BEL has formed a short term reversal pattern today with a target of 5.40 to 5.50 at most.

AEV broke above 38.50 - intraday high 38.70 - but unable to sustain its rally, closing lower from intraday high at 38.30. It would seem that it has already broke out of its sideways-to-down trend today but I am still skeptical about the break out because most of the volume came from the huge cross so I think it would be better to wait at the gap instead of chasing and buying it higher. Or I could just buy when it breaks 40.

It was a boring day for NIKL because the market was up. 5-minute chart was flat the entire time until it was bought up by ASIASEC at the closing. Today also have the lowest volume turnover in the current trend. Calm before the storm or sign of impending reversal? Closing bid looks delicious though.

Hypothetical short positions in AP is down by 4.50% and MER is down by 3.50%.