Good points. I was wondering the same thing. Why is this stock getting killed so much?! Gold hasn't really fallen that much. Defies basic economics.
Looks like there is a lot more pain ahead in the short run! Really cant do much. Just have to sit tight however long it takes. I am not on margin thankfully.
"Appetite for physical gold in India and China has returned, particularly as low prices lure buyers during India’s Diwali festival, the country’s biggest-gold buying occasion of the year.
Demand surrounding this year’s Diwali festival, which is being celebrated Thursday, rose by around a third from last year, said Rahul Gupta, managing director of Delhi-based P.P. Jewelers, a large jewelry retail chain. ...... "
But obviously not enough to make a dent on miners yet?
Are people buying in for dividend? In that case, I wonder if it will get sold off like last time after ex div. Hope this time its different.
Gold seems solidly on rebound. It is quite an anamoly that AUY is plumbing new depths. I suppose such irrationalities are not new to WS. Hopefully it gets corrected as the metal continues the rebound.
ateteen, thanks. Is there a "knock your socks off" earnings scenario that could change things? or it doesn't matter what earnings is, its all about macroeconomic scenarios only? Just wondering..
I don't know. For me it is just disappointing with a bunch of dead money tied up in this stock. I don't clearly see any catalysts for recovery in the horizon. If someone can convince otherwise, I will be all ears.
But then who knows! All the good news didn't help this stock. May be the bad news will. Go figure.
Well, now we know why this stock was acting so strange. There were people who knew this and sold the heck out of it.
afleischner-- scaremonger! on Yahoo board everyone becomes a stock guru! They have good risk management plans. Besides this is not a one-trick pony. On to 60's!
As long as the company keeps beating the expectations and declaring nice dividends, I am ok with it. We will catch up eventually and this too shall pass.