History can be a helpful instructor.
On February 8, 2012, one year ago, "lbergus" (Larry Bergus), posted a "research report" (paid promotion??) from "ValuEngine".
Some of Larry's post quoting the report as follows:
"February 8, 2012 (FinancialWire) (Investrend Research Syndicate) -- Valuation specialist independent research provider ValuEngine has upgraded Gold Resource Corp. (GORO:$27.02,00$0.16,000.60%) to a "5" ranking, which is the firm's highest available valuation. Gold Resource Corporation (GORO:$27.02,00$0.16,000.60%) (approx market cap. $1.4 bil.),... "
"GORO stock last closed at $26.86 per share, while GORO's per-share price has ranged from $15.06 to $31.38 in the last 52 weeks, and its 3-month average daily trading volume has been 219,618 shares."
--Also on Feb 8, 2012, "barsolid" chimed in with his following T-A on GORO:
"This stock is so strong that we might just go sideways. RSI came down a little to around 66 and the stochs are all still holding very high and steady. WE hit 26.50 and 26.60 the last couple of mornings. More support at 25.00 but this 26.50 area might just be the pullback.. "
--And "Kansascrudes" follows Barsolid off the cliff with his own TA post:
"Close at $26.57 and good support at $26.50 should bode well. Bet that helps the overbought RSI as well.Filled up my "core position" and picked up some trading shares too!"
--Also on Feb 8, 2012, Keepshorting posted a 2009 press release where Bill Reid, CEO, made promises of the resource at El Aguila. Here's Keeps's post quoting Bill Reid:
we have no hesitation increasing our near term mineralized material target to 3.5 million gold equivalent ounces"
THANKS FOR THE LAUGH BILL. JUST MORE LIES AND EMPTY PROMISES. WHERE IS THE 43-101 AMIGO???
--And given that GORO was down 27.5% in 2012, what day in that year would be complete without a "2012 - Year of the Longs!" war-cry from our not-so-prescient Amadeus?
Here's one of his comments that day, as he fails to observe the big picture:
"...Shorty, It has become quite clear to me that you are ruled more by your emotions than by your intellect. A secondary possibility is that you are just plain dumb and don't understand anything less than complete hyperbole. Subtleties just go right over your head....
.....Obviously, providing production numbers in AgEq would be less impacted than providing them in AuEq. But the problem REMAINS THE SAME.
You really ought to consider another vocation.
2012 - Year of the Longs!
--Same day, let's toss in one other Amadeus post for old times sake. Management had just changed their 2012 production estimate from 140K oz to 120K-140K oz.:
"You are like Shorty, Engy. You see everything through "negative" colored glasses. You actually have no idea whatsoever why they changed their estimate for 2012. (And neither do I.) You are guessing. And your guesses are ALWAYS have a negative slant."
and further: "Let me provide a different possibility for the change to 120k-140k instead. Maybe management feels that the gold/silver ratio is more likely to expand rather than contract. That is, as the ratio expands (moves higher than currently), fewer AuEq ounces will be produced.
It could be the above, or it could be yet another reason. But at the end of the day, even if they only produce 120k ounces AuEq in 2012, that represents an increase of about 80% over 2011 levels."
They only missed their 2012 estimate by 57k ounces.....that was some ratio expansion Wrongy....Great Call.
Looks like they will miss their original 2013 estimate by 120k ounces. That ratio expansion is just wreaking havoc.....