Hey guys i currently have some shares that i bought at 2.80 that I'm still holding. I was thinking about adding more but that would drive my average stock price up. If I'm trying to Max profits in the long run should i hold my shares and position at 2.80 or should i buy more but have my position be around 3.5ish?
The best time to buy (best stock price versus future risk) was back at the end of November when TC secured a $350M buffer of cash above and beyond what they believed that they needed to insure that they would complete MM (that would have yielded a pop of 65% in 2 months) . I agree with others here that the stock will continue to climb unless there are production start up issues at MM. I expect this quarters earnings to be higher than expected given the resilience in Moly prices and the reduction in stripping costs that TC should experience from delaying stripping over the last quarter. I havn't been able to restrain myself from buying and have in addition to my core share position purchased the 2.0 Jun 13 Calls and the 5.0 Jan 14 Calls recently with the idea that I will save money over the coming months and exercise the June in the money calls before they expire and then save money to exercise my January calls between June of 2013 and January of 2014. This is the only way I can think of to insure that I secure the position I want before TC continues to run some more.
Now that the taxation issue is out of the way (not sure what the debt ceiling impact will be but it hasn't been huge in the past everytime the issue is discussed) I think this year will be a year of new all time highs in the stock market as money printing continues to run rampant around the world and the global economy continues to gain steam.
Agreed, if you wait unitl Q3, you'll likely be CHASING, :). I couldn't believe when it dropped all the way down to below $3. Added BIG then and will hold the core position for a LONG time, what a STEAL imo.