Tax loss selling by the public.
Fly motto was buy low sell high. They did that thanks to the nod and wink during their prayer meets.! That's how they are millionaires today.!
They are unlikely to get cash flow +ve by 2014 ; earliest may be 2015. The biggest mkt is in China but the margins are slim ; why I don't know.!
I think a BUY out by Caterpillar may be the better route to go but CAT is a very frugal spender.
Having got suckered by Wall St. , owners are now switching to the Management shuffle hoping this will confuse Investors.
It wont . They overpaid and need to take a write down of the excess paid.
Pvt Hedge Funds put out a fortnightly letter to their wealthy clients. Till now they have not shown a cover recommendation.
TA points to $15 as a first support..
My F.A warned me about Medical stocks. They are in turmoil because of rumors etc. Nothing will be proved till late 2016 so its either Hold or sidelines for now.
The word on the street is that this is a Hedge Fund play both ends ; means they first run it down , then up.
These naughty boys now dominate this market.
Yes I was wrong about the Budget. The Tea Party has learnt its lesson about "obstruction".
The trend will be down because Wall St always shakes out weak money b4 a move. Whenever they sense good news, they shake the tree. I believe we will see that b4 any meaningful gain above $23.
They always do.
In late DEC we have the Budget gridlock once again and this time my Tea party friends say its linked to the Medicare Bill which they and their Medical lobby group are determined to repeal.or make it unworkable.I wont be surprised if we head south this winter.!
Look at the debt level and appreciate what the impact of increasing rates will be. All stocks with debt /equity ratios above 0.3 will get a shaving reflecting that fear.
You have to look at the long term NAV .It is a depleting resource and topping that has to be faster than taking out. The mkt senses the long term equation is -ve and we don't have any cash reserves to BUY new properties. The U.S and Canada are
drowning in Gas but have insufficient pipelines & Utilities for consumption/export.
I expect it to trend down between now and end Jan..
Thx. Did you get your invite to the New Year bash?.. Its a big celebration with the entire fly clan of millionaires hosting it.. Should be fun.!
I did even better.. As new immigrant, I listened to the President when he said invest in education. So I put all my 401k into CECO and now it has evaporated to a fraction.
My fly don't know because I keep them in the dark because the Utility has cut our power. I don't believe CECO is going to rise from ashes.