I am surprised traders are not talking about the Tronox/Kerr McGee bankrupcy litigation. APC is responsible for KMG's liability which is variously estimated run from $0 to $14 billion. Yes, Billion. Not sure what APC has reserved for this. I believe some "experts" are looking for a damages assessment or settlement in the $3b range. Love APC but am concerned about possible negative outcome that is not being factored in.
I said if the top level is taken out, it's invalid. Until then, it's something to keep in mind and if it breaks, it's confirmed. I'm assuming that people who read these charts understand that nothing is confirmed unless I say "confirmed." Or they see it confirmed. What's the problem, exactly?