Wish you all luck with this stock. Im pretty much out of the market as I cashed most in about a year ago and put into cash flowing C rated apartments. I'm 62 now and don't work , so way less stress than cashing in principle to live on.
Don't misunderstand what my feelings are. I don't think the stock is a bad buy here. I just don't put much faith in big boost due to short covering. My biggest position is in SQMN and that has massive naked short selling. About 22,000,000 shares sold short. Anyway... my point was I don't think this stock is the best place to have my money at this point in time. Too much pain and suffefring and there are other fish in the sea. By no means do I think that buying or holding GFA at these levels is unsound investment stategy, I just have had enough and put the few bucks of equity I had in this into something else.
Good article with Jim Chanos, his views on China pretty much in line with Marc Faber's and Hugh Hendry's. I like both of these guys although Faber is getting old and saying the same things all over again just like Jim Rogers.
Whom I really like is Kyle Bass, check him out on youtube or cnbc videos...there is a long conference vdeo like 1 hour on youtube he is absolutely fantastic...although he also keeps repeating his Japan collapse for the last two years which is still to be seen...
Average price at $3.50. I got too cute right after what I perceived was a very positive earning's report. I got too cute again after it filled the last underlying gap at $3.25.
Live and learn. Or not.
Nothing personal RD. I've been in your shoes before and god knows I've lost enough money on this POS. I'm just taking a new approach to investing that involves greater emotional attachment.
Pretty much my thinking....about to cut losses and live to fight another day. Markets are poised to get punished down to 1244 minimum and possibly lower if Euros don't start to seriously address this mess and sort things out....GFA doesn't stand a chance. Just out of curiosity, have you seen short interest in GFA?
"live to fight another day"
I don't blame you if you sell. As aco said, you need strong stomach for a four bagger. Shaking weak hands? You haven't seen anything yet. Check PCX. Worse balance sheet. From $3.3 to $1.3 and back up to $2.5 in a day...that's a shaking.
Expect anything from High Frequency Trading. Hal swapping Skynet back and forth.
I'm not planning to sell at these levels.
Short Interest (Shares Short) 6,895,700
Days To Cover (Short Interest Ratio) 3.1
Short Percent of Float view
Naked Short Selling List - NEW view
Short Interest - Prior 6,137,500
Short % Increase / Decrease 12.35