As virtually all mining stocks get killed today, SWC, a stock that was hammered down from $16.5 to $8 in just three months, stands firm today and actually rallied up 5% and close at teh $8.72 high. More interesting is the 1.1M block purchase order near the end of trade today. Such million share block purchasing never happened in SWC before. Big institutions have been loading up SWC laterly and they are now ready to launch a big short squeeze as they have finished loading? The big block trade really rings a bell!
Very remarkable performance. It really shows SWC is at the rock bottom and has winded up tremendous energy to spring upwards from here. As I explained, SWC is super bullish in its fundamental, due to potential applications of PGM metals in mobile fuel cell for electronic gismos like cell phones and digital cameras. SWC is the ONLY US based PGM metal producer. Fuel cell powered cell phone will come to market later this year. Imagine a cell phone which does NOT need to be recharged for 6 months at a time! The whole world produces about 35 miligrams of palladium per person.
Watch for a possible dramatic rally tomorrow!