warbucks

Got Zinc? The Long Case for Horsehead Holding

With zinc at 50 - 55 cents per pound now, I'm guessing even with the hedges, Horsehead will not be profitable in 2009. The hedging in 2009 is only for half the amount of zinc as the 2008 hedges so they are way more exposed to market prices.

What are your thoughts on the above? Are you still holding your shares? Are you buying more at 50% of what you paid?