I see no reason why not to load the boat here at 57.00
Reuters did report interest from BHP and ALL.. LN of a 6 billion possible buyout 10 weeks ago .. The price 6 weeks ago was 76.00 - That implied a 100.00 offer..
Thoughts are now that BHP was taking a wait and see... At todays price they could do this at 76.00 for 4.5 billion... Extremely cheap deal now.. BHP will be at the door if they can beat the others... WLT is just way oversold and due for some good days ahead..Coke is not going away Either is coal.
I always get a kick out of these over and under valued statements..even the big brokerage houses do it..I have done it many times I think everyone has thought it..but the reality is that WLT is correctly valued at any given point of time..the reason this is true is because it is the combined hopes and fears.. knowledge or ignorance of every single person that owns..buys..sells or sells short WLT shares..you can bet if WLT closed @ 58.75 that is exactly what it is worth..and by the way I bought some today at 59.02
You did good grasshopper...But you are wrong.. Something always has a basic set value. Emotional people seeing a decline from 76.00 to 56.00 just bring a temporary day to day or a few weeks dip in daily value, but Walters Resources are worth 125.00/share
They may be getting 260.00/ton now But that price will be 325.00 - 350.00 as soon a uptick is steel shipments show up for 3 consecutive months.