SP moving sideways in slow trading indicates to me that we are building a base. Looks like we have gotten rid of the negativity. At some point the cumulative effect of the NRs will get noticed. A little movement above this base will also draw attention.

Short term, the nickel price on Kitco has been above 10 for the past three days. the warehouse stocks have continued to go down. This level is probably painful for the laterites, but is still ok for sulphides.

Long term, the earthquake in China has to have an effect. China had a building boom leading up to the Olympics, and had just slowed that down early this year. They now have 5,000,000 homeless. I read somewhere, but can't find it now, that they plan to move over and build a new city for them within three years. That sounds like a boom to me. It should have an effect on commodities.