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Joy Global, Inc. Message Board

  • indexit indexit Oct 4, 2012 4:46 PM Flag

    My mixed feeling about JOY

    Nice day today. closed stronger than I thought. I am sure there are many here who follow coal and mineral stocks. For the year they are in the crapper as is Joy. In the ceo's appearance on cramer back in the spring when JOY was 90 he was asked with the decline in coal demand ? He said equipment order impact was negligible. I think that has turned out to be a lie, but I honestly do not know the particulars., but he did not exactly raise his credibility.Iron ore is having a bit of a rebound, but having a bad year. So right now you buy on faith things can turn around, which probably depends more than anything else on China,which I doubt many really understand or know. the whole GE thing is questionable. GE buys companies for two reasons. First they perceive they are undervalued and expect growth in the area. Could be the case here. They will also buy companies they believe are not well managed or that they can financially engineer to realize greater value. Could be the case here. So you have to hope for a turn around in mining for Joy to do well and that is based on hope, not what I am really seeing in other sector using the equipement. there were some positive numbers on China coal imports today, but I have also read they have huge stockpiles. Got me here. I am long but will sell on appropriate news.

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    • Long term holder here. Trade around a core position. Thinking about trimming position close to 60. Can see GE doing something with JOY like buying for underground fit and selling off the above ground piece. But fact that market really hasn't favorably reacted to the news tells me chances are very slim. Think CHINA is the single driving factor in driving this stock in the short term...and that's not looking promising. Think we see the low 50's before the low 60's.

 
JOY
54.54-1.30(-2.33%)Sep 30 4:02 PMEDT

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