The biggest reason for todays fall were strong hints of another possible rate hike. However Janet Yellen is against this & enough members agree with her to block. Of course this brings out alot of uncertainty which is never good.
Also we went up most every day so a correction was over due & with the Fed news it was way overdone on all commodity stocks.
Here is some good news which may help stabilize FCX
1) Home building in the US & more importantly China are on the rise.
2) India, the worlds largest importer of Gold saw Feb imports half that of Jan. due to Jewelers strike.
with that now settled expect pent up demand & imports for gold.
I believe patience will be rewarded, however any more rate increases before the expected one in Dec. will have a negative action on commodities.
Wed. up over 10%, Thurs. up over 6% So overdue for a pullback, profit taking, we go down about 1%. No significant selling.
With the weak dollar, copper, gold & oil will go highewr & FCX will be there & smart longs will enjoy the rise.
Nice weekend to all
Added on to yesterdays over 10% gain
Today's volume almost 53M with bog blocks at the end buying.
To state the obvious, This stock is in play. Expecting a pullback but then just fasten the seatbelt & enjoy the ride.
If copper, gold, & oil can sustain this rally over a period of time & hold it, I would not be surprised to see significant eps upgrades & higher prices for sales of assets to pay down the debt.
Numerous companies make it a practice of under predicting & when the time comes over perform or pre-announce stronger than expected earnings.
I see no reason why business will stall from their current growth rate.
Patience will make this a lucrative investment. IMHO
OCLR keeps making new highs.
Spectacular earnings which beat all analyst's opinions on the upper & bottom line, finally turning a profit & should keep on doing well. 100G sales increasing 20% yearly & firms upgrading I can not understand the huge short position which even increased after earnings.
With so many stocks out there with broken fundamentals and/or technical's I can't understand the logic.
Either way longs will ride this up on this growing company & will make lucrative gains.
Eventually there will be a squeeze & it will be a bloodbath for shorts who went the wrong way, IMHO
Appears after the series of good news debunking the shorts culminating with the 20f where we appreciated about 30% in one day while some stocks don't see these gains in a year, the stock is taking a breather drifting slightly lower waiting for the quarterly fiscal 2016 earnings reports which will be the next catalyst to propel ANIF. I would think they would be released expeditiously. So in the meantime with business growing well above it's anemic p/e & peg, I am expecting very lucrative times ahead as this is stock is quite undervalued.
Patience will be rewarded.
Yes, during bad times in the economy or the market, one of the safe areas are food stocks. ANFI proves they can grow during good times also. :)
Hello diazd, Would not Amira sell direct to Iran from India due to the close logistics?
Who was selling Iran basmati rice from India pre sanctions, was it KRBL? Iran is a huge market & India is NOT on Iran's bad side, while I agree there are tensions with Iran & UAE among others.
That is incorrect, ANFI did export Basmati rice big time to Iran before sanctions.
"The lifting of sanctions would have a positive long term effect on India's rice export"
Said Karan A. Chanana, Chairman of Amira Group a shipper of one brand of basmati.