New 8k just filed, come on shorts take us down to my next buy level: On January 29, 2015, Kingston Mining, Inc., a subsidiary of Alpha Natural Resources, Inc., received an imminent danger order issued by
the Mine Safety and Health Administration (“MSHA”) under section 107(a) of the Federal Mine Safety and Health Act of 1977 to the Kingston No 1 mine, located near Scarbro, West Virginia. The order alleged that a forklift operator was observed pushing loaded flatcars on the mine surface and allowing them to coast freely without control. The forklift operator immediately stopped the practice, and MSHA immediately terminated the order. No injuries occurred in connection with the alleged practice.
I try not to post when I buying, but I'm glad to see the Hulk is absent from the board. Maybe he's over on the ACI board. Oh, that's right - I put him on ignore!
I finally had my shares filled this morning at $.90 and came so close to getting those $.85 shares filled but couldn't get there. My cost average is now down to $.9833 and I know all those shares are going to be worth a very huge sum of money some day.
I was hoping for $4 myself, but in the end every time we attempted to get much higher a bunch of new shorts jumped in and we ended at $3.80. Seems like the big boys wanted us closer to $3.75 than $4. Maybe next week!
I hope you're right, there's so many people predicting a down market in the next few months. Firms simply waiting for options to expire and the month to end. I can't see us going against the current if that market prediction comes true.
You're probably correct because the charts do show a break down. It would appear that not many are believing the turnaround has started yet.
When I read the upgrade remarks, I see the following: "Unfortunately, guidance for the first quarter of 2015 will not be available until March. That means that forecasting the annual outlook is nearly impossible at this point without knowing where steel prices will be over the course of the full year. "
The company shed a bit of light going forward by stating, "In 2015, we anticipate approximately $150 million in capital investments with approximately 20% of these investments targeted to projects that will enhance our business and margins and the balance being mostly in maintenance CapEx. "
The company needs to start deleveraging and get its financial house in order so it can start preserving the stock price. If our balance sheet was in better condition, the company could be buying back shares at these ridiculously low levels.
Lastly, don't forget this comment because it will certainly cost money to proceed with this GOES case: "Given the troubled economies outside the United States and the huge increase in their steel exports to the U.S., our attorneys are taking a hard look at whether or not a trade case should be filed. But one thing is crystal clear, we've been injured. Both AK Steel and the U.S. steel industry have been significantly harmed as America has become the dumping ground for foreign-produced steel. How fast we can prove injury and how quickly we can accelerate the process is key. Clearly, we're focused on this issue and you'll be hearing more about it. So, stay tuned."
We will need to finish the week and month at or near the strongest options levels. Is that at $4 or $3.75, I'm hoping for the $4 level.
Nothing but good news coming out of the company but we continue to take 7-8% daily haircuts. The only problem I see with your February scenario is that market motto, "As January goes, so goes the market for the rest of the year". If that holds true, I don't see us going against that market trend. Holding is difficult in this market, but that's why they call it, shaking out the weak hands. I just need to stop looking at level II quotes.
Either that or it was the shorts wanting to let the stock up a bit to short even more. I'm getting tired of these afternoon attacks. It was a bit different yesterday when the entire market was down as well. Today's price action is bs!
Obviously the spike up to $3.85 was simply another head fake. It's hard to hold if you're looking at level 2 quotes and seeing the selling pressure. I'm almost sold out at $3.84 after taking another 10% haircut yesterday but didn't pull the trigger. Now I'm looking at the chart and thinking that holding was a mistake. I think the stock is spring coiled at these prices, so hopefully we shoot upward soon.
The big problem is the company's refusal to provide forward guidance during the earnings calls. They will not provide any forward guidance until March, so the shorts can take it down with the price of oil.
I would have said $3.75 was a good entry point but now the chart look broken and the big boys are taking it down further. $3.50 would be a good point but if the chart is correct, it's going lower and into the $3.30's.
I just don't get it, but the downgrading company must have so many more shares than the upgrading company. With the closing of the 2 plants, we seem destine to track down with oil. GEEZ!
We need those shorts in order to get a quick asent back to the lelels we were a few months back. Shorts running for cover takes the stock up very, very quickly.