Next Update 23 Jul 2013 12:57
ElProfessor,
Broker forecasts are notoriously difficult to value and rarely do they tell you how they come to that figure. Again valuations are probably on a self interest basis. But to be fair most of the valuations are at similar levels. My personal valuation would be similar to yourself at the bottom end of the forecasts around 160. But again how much value do you allow for the LME.
If results are good again I could easily see a spike of around 25p (late 150's to early 160), but usually when things go up fast they then come down (usually with selling and this time I would probably be one of them) again like you I see a quick drop to 150 then a slow decline to 140.
Agree with you on buying/selling on lows and highs, I used to hate it when you sell something and as soon you do it goes up another couple of pence. Now I just set a target to reach and when it does, it goes, with a lot less emotion, unfortunately we are not machines and we most definitely can not pick tops and bottoms, if we get near great does make you feel good for a few minutes.
Cheers PP