"Eldorado Gold(EGO) rated new Overweight at Morgan Stanley. $19 price target. Company can deliver industry-leading growth over the next several years".
What has changed... Now EGO is at extreme oversold conditions.. The price is super low if you are a value trader/investor... Will not take much for the shorts to cover.. I think 3 to 6 dollar gains are very likely over the next few months..... I like most miners and natural resource companies that have been beat down..EGO, IAG, CLF and NFX are my picks at these levels... Most have suffered a 50 plus % haircut without much to support that type of cut... IAG has a hugh Div for the price... I think we are at or near the bottom... Steel is also near it's histroical lows and I expect a bounce soon...
I tend to agree with you and am holding all shares. The real risk is that there is something wrong at the company that is visible to some but not to all. If bad news comes out now, it spells long term trouble. I stil think Greece is somewhat of a wild card. You must beleive in management's ability to run the company and also that the long term trend for gold is definately up. If you buy those two concepts, you will be fine and sleep well at night but it is not easy in here at this time.
I wonder where the July 10 Call volume is coming from. Is that someone close to the company who already knows more than the company will get permits/ good news in the next 2 months on one of their projects. I will average down if this stocks drops even more. Target 13 bucks before september.