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Joy Global, Inc. Message Board

  • exsummiter exsummiter Aug 22, 2012 9:47 PM Flag

    Seeking Alpha article...

    ...says it's time to get out. I've found a lot
    of their stuff to be bunk. He does make a point about coal
    though, I would think this is being factored in to current price. My strategy was to hold long thru earnings.

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    • goodleyjay Aug 23, 2012 9:36 AM Flag

      Problem with Seeking Alpha is every week someone else is coming out with an article with a different point of view. A few weeks ago they had an article saying add some "Joy" to your portfolio. They are all over the place. No doubt world economies are on the bubble including US. Australia has a mining slow down as well. Issue is what is the stock really worth? Cramer who showed the chart action in all fairness 6 months ago the same analyst called the decline of Joy as it was making lower lows when the stock was 68. She called 45. It hit 48 and now she i calling a reversal. I beleive the stock should be 62 to 64 and over time could go to 77 she called it.

    • Yes, I think the bad news is cooked into the stock. We were told that one of the reasons for slow coal production was the warm winter and cheap natural gas. As natural gas goes above $3.00 and we get a normal winter the coal market should finally stabilise. If Mitt Romney starts doing better in the polls and eventually wins the coal market would also get a big relief.

      Joy already booked losses last quarter to recognise this years slow down. So that is baked in at this point.

      This stock is a good buy going forward.

27.52+0.19(+0.70%)Aug 29 4:02 PMEDT