You will be rich if you buy at $5.80 because then you can get to sell it at $7.40 after another pump and dump
Relax, this will only go down to $5 and sit there until next earnings. Then it falls to $4 . Just relax.
The target price of the new Citigroup Analyst was $11 on that date not 16-17 like you said. And, last October, the ORIGINAL citigroup analyst gave a $14 so this new price target was a decrease.
They have to do a capital raise before next summer the way they are burning cash.
You know they don't have one single drug in Phase 2 don't you? so, yes, this is going to $5 in 6-7 days.
Look at insider trading of MCP (Molycorp) that insiders bought some $10 million. it is in bankruptcy.
Look at insider trading of WLT (walter energy) insiders bought several million between $16-$19 in summer 2014 and it is in bankruptcy.
Look at insider trading of ANR and it is in bankruptcy of last week.
The idiot wrote:
DISCLOSURE: For the fourth time I re-entered with very tiny amount at 8.10 and bought a big chunk this morning at 7.13. And I expect to add even larger batch if it reaches near its 52 weeks low resistance of 6.60 6.80. This time I am not selling until the news come out.
Dude, they say on their conference all they think China is going to dump more because of overcapacity in their country and they are undercutting everyone selling on the open market.
The conference call is saying the Chinese have over supply and just dumping in US market and depressing presses and nothing is being done about it. With China in trouble with all their debt, they are just trying to sell what they can at whatever the cost. Just too much supply. I think this will fall more with all margin selling now as most people are unaware .
Dramatic decline in pricing of aluminum in just 1 quarter.
Shelly Harrison, Century Aluminum Company - VP, Finance and Treasurer
Thanks, Mike. We can move along to slide 7, please. I'll provide some comments here on the industry environment. The cash LME price averaged $17.65 per ton in Q2. That's about a $35 decline from Q1 prices. Regional premiums continued to fall throughout the quarter, but it appears to have found some stability around $0.08 per pound, or $175 on a per-ton basis. Premiums have been trading around these levels since early to mid June.
Just to give you a sense of how massive the decline in prices has been, in February of this year, the Midwest transaction price, which includes both the LME price and the premium for delivery into the US and West, was around $2400 per ton. Today, that price is roughly $1750 per ton. That's a $650 decline in six months.
Despite good demand growth in the US and an improving picture in Western Europe, several factors have weighed on aluminum prices and premiums. These include a strong dollar and macroeconomic concerns such as the Greek default, but we believe the largest factor driving down aluminum prices is China.
At the same time, the Chinese economic growth and aluminum consumption are slowing. Producers in China are continuing to invest in aluminum projects. This over-investment has pushed China well into the surplus position for 2015. Excess metal is being exported to the West and more than wiping out the aluminum deficit in the world, ex China.
China exports crashing prices due to Chinese government subsidies.
Various components of the cost structure of the primary aluminum sector in China are heavily subsidized, the duty and fiscal regimes are increasingly encouraging export, and there is very clear evidence of significant and growing flouting of regulations and even laws. The situation represents a real threat to orderly, competitive and strong markets for all participants, in our view. We're increasingly convinced that only a policy response in China and-or in Western markets will change inappropriate and, in many cases, blatantly illegal behavior.
The harm does to the markets is seen at this Company and at others. We don't see fair conditions returning to these markets at least in the foreseeable future, and thus we've taken some very regrettable, but what we consider to be at the same time, very necessary actions, and I'll detail those in just a moment.
All the commodities are tanking and they can't pay back their debt so they are declaring bankruptcy like WLT, ANR, ACI, BTU, etc.