Did you ever doubt that the bankers buying at around $4.30 would not start pushing this stock? I know the upgrade came from a different bank but it's all the same mafia. The banks buying at $4.30 should have been serious sign that the stock would not stay under $4 for long...
... when Molycorp's shareholders get wiped out and Molycorp comes out of bankruptcy as a new entity, will this new company be worth investing into? Even if Molycorp had ZERO debt right now, it's still a challenge to turn a profit in this environment.
It could be that your "buy @ 4, sell @ 4.60" will become "buy @ 3.50, sell @ 4" for a while...
Really hard to believe especially that you bought above 10.30... you should use random numbers that actually make sense!
I'm waiting for that famous post where you will say that luckily you sold NUGT at the open yesterday at $9.84 ;-)
Exactly. It's cleanup time, and Yamana was one of the first to get on that track. It's going to take a while but I still believe Yamana will outperform peers when/if gold recovers.
No mining company has the financial strength for any major take over at the moment. Barrick and Goldcorp are busy cleaning their balance sheet with write downs, and other miners are too small to make a bid for anything above $500 millions. In this environment, no bank will lend billions for an acquisition, unless it comes from dilution.
But I feel that if gold can go up above $1300 and stay there for a while, and Yamana stabilizes (no more write downs), a bid could be coming.
I just think the behavior of the stock price today is very funny. I only had time to check the price of gold and silver this morning and was expecting the stock to go down another 5-7%, and when I checked Yamana was 3% up. Miners are so oversold that even gold going down doesn't push their price in the red today. Let's see what happens but I expect a massive up correction the next day Gold goes up 1% or more...
The people that seem to make the most money out of NUGT and DUST are the ones shorting both indexes at the same time.
Call me a fool but I'm getting my #$%$ kicked since Friday and still happily added 1000 shares just now.
Well, since no one ever loses money on this board, he will probably tell us tomorrow that 'he sold on Monday morning' before NUGT crashed ;-)
Wow, in one post you are saying Yamana is going bankrupt, then in another you're saying you'll buy at $2. You're not the smartest bloke around are ya...
I feel Yamana was the first to get on the impairment bandwagon and has now one of the cleanest balance sheet in the sector. Of course I might be wrong but I expect Yamana to outperform peers in the next 12 months, but it doesn't mean their stock price will get much higher.
Would you believe me if I tell you Yamana outperformed most of its peers in the past month? It's hard to believe considering the beating we took, but last night I compared Yamana to many miners like IAG, CDE and even GG and was very surprised with the result. I think there's hope after all ;-)