True, the low volume is one saving grace. But here's the deal. This stock is basicially a proxy for the price of NBSK. That's really what it boils down to. That's why people buy this stock in the first place. And with NBSK making new highs recently, this stock should at least be trading above the 50-dma, if not making new 52-week highs.
Take gold for example. With the price of gold hitting new highs, the gold miners have seen their stocks trading at new 52-week highs, or at least trading above their 50-dma.
For me, the fact that MERC continues to tank below it's 50-dma while NBSK price in Europe just hit a new high this week, is reason enough to be paranoid. It could be that the plumetting U.S. dollar will outpace and counteract the margin benefit of higher NBSK ptices, as we know MERC costs are denominated in Euro. It's not clear yet the full impact of an ever-weakening dollar. If NBSK continues to climb in step with Euro, maybe it will have minor impact. I'm not sure.
This is not true! Auy has been selling off as gold has gone up! Sitting on both! This is going to hit record profits and like auy has been selling off! I have seen this so many times right b4 earnings! Then to see earnigs blow the doors off and off to the races! Hang on for the ride!Auy will hit record profit this qtr also! Both are going to be good!$$$$$$$$$$$$$$$$$$$$$$$$$$$$
"..This is not true! Auy has been selling off as gold has gone up!"
No, AUY is still holding above the 50-dma, meaning the uptrebd is intact. As opposed to MERC, which is continuing to crash below the 50-dma while NBSK is making new highs.
"...I have seen this so many times right b4 earnings! Then to see earnigs blow the doors off and off to the races!"
Yeah, and I've seen the oppposite happen many more times. Unexpected weakness into earnings, followed by a major crash once the numbers are released. Nobody knows for sure.
Like I said yesterday, if I buy more of this stock, it will be with Thursday's earnings numbers in my hand. Oh, and by the way, I'll be paying the same price for stock as the suckers who bougbt yesterday and today. Except I'll have the benefit of new information to guide my decision.