down? stock price has dropped from $27 already, not good idea to bottom fish, trying to pinpoint exact entry can make one chase the stock higher and higher thinking it will come down. JRCC can move and when it does look out!
when times get tough, everyone still uses energy. good times, hostile times and war times. Reason for many wars is ENERGY, food, land, etc
Bull...Still there will be more stresses coming first: stronger dollar [the higher the dollar goes, the more expensive coal becomes], economic slowdown in Europe [recession for sure] and who knows what bank or country might need a bailout... then you've got China, Iran [could turn into a nuclear crisis which means it will also mean stresses on oil and coal] and North Korea [same things].... and then there's an election year going on here in the good ole USA thru November in 2012, not usually [by historic standards] a good year for stocks... sure the stock has collapsed from $27.06 [Jan] to $5.41 [Oct 04th] at one point. It's not done yet, IMHO. I think we break below the 52 week low. We re-visited the low $6s just last week with the S&P around 1203. What do you think will happen when the holidays are over and we have one bad bond auction over 8%? Markets will flip out and we begin by a leg down to 1190. Below that it starts to get even worse and by Feb we could see a return to 1100, March the latest. There WILL be extreme volatility in Q1 and further down the road until there is a real liquid plan by the EU and the ESFS to support any the possibility of a bank failure, or an EU country bailout [you think Greece is saved? Think again] and the real possibility of a country like Greece exiting the EU. What do you think will happen to the markets then? All out panic. You might not like the picture I've painted... but it's very realistic and has a 50-50 chance of really happening... bottom fishing it may feel like today... "Stocks are cheap," analysts say. Analysts get it wrong 99% of time. A fact. Trust me, stocks could get a whole lot cheaper. I repeat: PATIENCE IS THE KEY.
Thanks cashbar for the analysis. You are correct, there is alot of risk in the world market. The vix is low and the Dow/S&P are high and could reverse on any headline. At 6.80 we could see alot of downside from here eventhough it appears to be a great buy now. However, China has the resources to prevent a hard landing and the Australian weather today could close the mines completely. I bought 20k shares at 6.75 this week and will either average down or make some money through late Feb. only time will tell. Good Luck and Merry Christmas. SK