I started buying into VLKAY.PK several months after the big short squeeze when I learned they were planning a big marketing push to expand in the U.S. market. VLKAY.PK sucked for months after that, I kept holding it as it dropped lower and lower and lower ... finally it started to show signs of rebounding, and I sold and booked a loss (10%? 15%?). If I had held it another few months, I would have had a gain.
Lesson? The market is not rational and can stay irrational longer than you can remain solvent.
One would hope that *eventually* ABX will be attractive again to investors. Until that happens, you either book your loss or continue to hold this POS, and it may drop further.
I know ABX will be doing fine once Pascua Lama starts production ... that's a long time to hold this POS, but that's what plan to do. GLTA
The market is not rational? Amazing denial on the part of misguided bulls.
Well, I am shaving my strong sell to sell, maybe leaving some money on the table, if it is any comfort for the suffering longs.
We all are. This is bizarre. Feels like 2008 and yet au and ag are sky high. Mining is a dirty word now. Price is elelevant. No one cares. It's all about goog, lnkd, fb, nflx and the like. And tcracker is right. At this point you have to hold on or you won't catch the rebound and make up losses. I also own SVM down 76% from the high. To late to sell, may take it the grave.
ABX down 44%, and the amazing thing is if you don't buy it, you won't catch the upside from here. The write-down is behind them! What do you think about next quarter EPS? BUY BUY BUY
Pascua Lama title and Protocol problems. The halting of Barricks pre stripping at Pascua by the Chilean authorities since Oct 2012 and Barrick reporting legal and regulatory problems at Pascua Lama should give you a hint.
New Barrick COO and Pascua Lama big shot Igor Gonzales recently quit as well as Nat Rothschild. Watch the rats run.