While its been a bit longer than a week how's that sucker's trade treating you?
Hindsight being 20/20 you should reconsider your bragging on public message boards in the future. While SID may go back down to allow you to buy a little higher than when you totally sold out I doubt you'll see $3.85 again unless some black swan event happens to SID.
as per namisa they said it wouldn't be resolved until at least September now but everyone is bargaining in good faith... we will see.
Looks like SID did a pretty good job with their share repurchase getting most of the ~70m goal before the stock started its next grind up.
Looks like short sellers are backing off for a bit. Probably nervous going into earnings with the reduced share count. A positive surprise could certainly push this to test December highs by the end of the year.
Good luck to longs.
I was hoping RGA would miss the train and not get back in so hopefully we don't have to hear about his perfect timing and whining.
still hoping the stock doesn't go down to a level he decides to buy
of course I asked myself that question and it is one of the reasons I'm positive on this company for my investment time frame. If you can't see the positives of their strategy you should ask yourself how well you understand economic and market cycles.
Just do the board a favor and move on now that you don't have shares. you post very little if anything of substance here.
no clue honestly if you are asking short term.
Long term trend up
Share repurchases are going to reduce float and improve EPS even if earnings don't actually improve just due to lower share count
Global markets will eventually start growing and steel is needed for infrastructure growth
high cost producers are going out of biz. SID is a low cost steel producer and low cost Iron ore producer so they can weather price drops. The real question is how long will it take the slack from capacity to disappear and prices to appreciate vs. debt they have to repay. Most their debt is longer term however so they have time.
So because of all that I feel generally good with the investment. Volatility sucks but if you don't need the funds in the short term who cares. I'd prefer share price be down so SID can repurchase at a lower price using less cash than if the shares were $10/share and they were trying to do same repurchases.
Looks like some big players are accumulating. Some very large block trades going through the last couple days. 500k in after hours today.
I'm assuming a lot of short covering is some of it but I'm guessing some funds are accumulating and we won't even know who for a while since they don't have to report these purchases until the end of the quarter.
I assume some of it is the stock buyback as well which I hope they were buying most the shares earlier in the month.
new share repurchase program announced today for another month to buy over 60m shares.
also yesterday was a selloff due to global selloff from Ukraine and Gaza headlines. in all reality what effective would that have on every companies earnings? bad for Malaysia airlines sure and maybe some other companies but not everyone.
the issue with your analysis is that you are assuming more spending = share price appreciation but you are forgetting factors like cost of goods sold vs. cost of goods or cost of ore sold vs. cost of iron ore. Look at the old prices of Steel and ore when the share price hit ~$20/share. Now look at the price of steel and ore.
I believe part of our most recent dividend was a prepayment of the annual/May dividend so I'm not sure it will be that high. Remember they lost money in Q4 because of the tax charge and still paid a dividend because it was a payment in advance or worded something like that.
no one really cares about a Brazilian steel company or any steel company really.... need stronger global growth and draw down on iron ore and steel inventories.
You don't need billions to be a long term investor. I'm an average joe like yourself. I just am not some magical day trader who thinks they can out smart the market. And I'm more than happy holding onto my shares and collecting dividends while I wait for steel to come back into favor. SID has been very good to me from my purchases sub $3 last August.
I don't speculate on money needed in less than a year. Anyone who invests in the market trying to get some quick profits when they need money in less than a year is a fool who will one day get burned. That money should be held somewhere much safer than in stocks.
yes I have my investment still in this company and have held it since my earlier purchases.
And yes I plan to hold through the next up cycle in steel before reducing my holdings and not day trade the waves up and down.
My goal isn't to sell at $4.15 and hope it goes lower only for it to start the next leg up and miss out.
You are one of the reasons the individual investor doesn't out perform the market. Good luck on your day trading but please don't whine here when things are not going your way because most of us really don't care about your 300 shares.
We just wish to share knowledge/news about the company/sector/industry/region that could benefit our decisions to buy or sell that we may miss and others find like the Russian steel bid SID did recently etc.
Just my 2 cents and good luck to the longs.
also. explain the following.
1. How will your day trading affect dividend taxation for you along with short term cap gains. Your $3,920 isn't a net figure only net of trading costs.
2. Your sales don't actually make sense. Go to yahoo finance. historical prices for SID. Type May 1 - May 30 for 2014.
Oddly enough your first may sales were around $4.25 which could have been done at the earliest of May 12th when it hit a high of $4.26 and closed at $4.25. Then for you to rebuy at $3.87 as your claimed would not have been possible since the lowest the share price got was $3.82 on May 30th. Leaving you very little time for your next perfectly timed sell at $4.28 which also could have only happened between your first sale at May 12th until May 16th when it capped out at $4.34.
Feel free next time to look at historical prices before you state your awesome day trading claims.
Before you just were chicken little of the board and now you are the boy who cried wolf. Not sure what we can believe from you.
I suppose ignore would be best so I don't have your negativity corrupting my trading philosophy.
I "hope" we see $20 again however hope isn't a strategy.
A lot will depend how quickly the global economy recovers and how much is put into infrastructure building which is lacking in many countries.
Iron ore prices have been a drag on SID's share price as well however last time Iron ore dropped like this it spiked back up to around $150 per 62. I doubt it would snap back that high now because of all the extra capacity that has come online but who knows.