There are 3 billion dollars worth of gold miner stocks overhanging the market. Once ABX's offering is finished by the 18th, there will be rally in the gold miners. The earnings are all out and are better than expected, and the fact that Friday's positive actions by the gold miners are encouraging: you do not see too many days when gold was down $26 to $20.00, and the gold miners overcame that and all finished in the green. Next week is buying time!
1) They pay down short term debt, therefore no problem in 2014. 2) They stopped throwing money in constructions in that money pit, and refused to be screwed by the crooks, the saving is said to be one billion/year: The suspension of the project is not without its merits, Sokalsky said.
“As a result, we hope to further reduce our previously lowered 2014 capital expenditure guidance by up to $1 billion while still addressing our social, environmental and other regulatory obligations,” he said.
With 30% of the float sold short, even a dead dog can bounce back a little. You will see 21 before 25; look at the chart from October 2012 till Jan, 2013, the same pattern. It looked real good from 17 to 26, then it was straight down to 16. Forget about it, there are better stocks out there.
Now you can sleep better; have a very nice weekend! JCP may or may not go higher, but the mental pain going into the holidays is not worth it.
" J.C. Penney recently revealed it had raised $932 million in an equity offering, a much needed capital infusion designed to help the company gear up for the pivotal holiday shopping season. "
Looks like they already got the money; I wonder who brought the shares?
If that is the case JCP is good for a few months.
I do not own JCP stock! I think the stores are definitely looking hipper and better. They are trying to change to another GAP. The old JCP customers are gone; I am not sure new generations of new customers would save JCP. There may not be enough time.