On July 1 when this stock was at $4.95 Cramer said (see Lighting Round on July 1) to avoid this stock.
At same time I posted, "this is a good company at a great price."
I said this before I see a lot of the same with PGH as I saw with PVX. I believe this company (just like I posted on the old PVX board) is prime for some bigger fish to buy. FYI: For all of us who stuck through the dark days of PVX we made a nice hunk of change. If we use PVX as model for the sell price of PGH it should be about $13. My advise, (a mistake I made) if PGH has to spin off part of it's holding to a new company. Sell the new company (of the spin off) right away.
I do not know what is happening to him. He did same thing with RRD, sell when it is low, now says buy when it is high. PGH will become buy soon, when they may increase dividend due to higher oil prices. Anyone can do that. One has to look at stable fundamentals and cash flow and do not fall for rhetorics.
@ tommy, I was watching that show as well ,he is full of it. I started buying this stock for my wife's roth at 8 and it tank almost immediately but because I believe in the long term outlook for this company I bought 10k more shares at 3.83. felt better after craaaaameeeer blast this stock .
Hey Derwane: I know how you feel. It is always nicer getting the end of the month statement from your broker and seeing a plus but as I said so many times here, "you only lose if you sell, sit back and enjoy those monthly dividend checks."
I have 1/20th in this stock as I have in cash in my money market account. I make more money from 1 month of dividends from PGH then I do on interest for the whole year in my money market account. Do the math.