Hey, I have been playing ABX for a little over a year and have made money on every single trade. (20 or so). Now, I dont buy many shares so my profit ranges from $100.00 to $500 net. With the earnings miss, crazy owner and trouble with glacier mines or lost lawsuit, do you think that $30 or $31 is not a good entry point for a short term play? I am looking an honest opinion from both a short and long investor. I realize its difficult on these forums to get that but please no pusher/basher. Just looking for a few kind souls to give their educated opinion.
I thjink the slide down from high 50s to the 30s has already captured the negativity, this was expected. Maybe a couple of bucks lower is the bottom I think. I am buying if it goes to $30, don't see much downside from that point.
If you have to ask an on-line financial board for stock investment advice, you should not be risking your money and investing. There are no kind souls in the financial world. My advice is to get a qualified and reputable financial advisor and broker; go to school; learn to read charts and company financial statements.
Thank all of you for your replies! I was thinking of buying about 400 shares at 31.33 and its up to 31.60 or so. I would only hold for a day or two but now I may back away. My head is spinning, so many stocks missed their earnings and the market is up huge! Any good shorts yall know of?
For what it's worth....You would think a company that makes this amount of money would be valued higher, but it's not. They have now missed on earnings 3 quarters in a row and the miss today was awful. In each of those 3 quarters their earnings have decreased so the sentiment, rightly so, is quite negative. I wouldn't touch this stock right now. I think it's a no brainer this goes into the 20's on sentiment alone. Whenever you involve the fraudulent and corrupt U.S. capital markets there is no telling where a stock that has bad news ends up. It doesn't matter what the PE is or what the PE for the sector is. The machines have the game rigged and the powers that be are taking this much lower.