The balance sheet of FCX is the same (or worse) as before the Icahn news, so I don't see why it should stay above the price it was back then, which was a bit below 8... investors are really a bunch of sheep.
The only reason it recently jumped 50% is because Icahn invested in the company. The fundamentals have not changed, so I expect FCX to tank another 30% or more where it belongs...
Explain to me how you can bankrupt a company by driving its share price down? Share price is a reflection of the health of the company, not the other way around. As long as Yamana's cash flow is fine and debt is manageable, the share price could be one cent it won't stop the company from operating.
That's what you said when the stock was at $2.60. Some people are kicking themselves for paying 400% more than they could have...
Well, I wouldn't call purchasing that oil company at inflated price "handling himself well". It's criminal activity from my point of view, making one of his buddy rich in the process.
Canada is a natural resource exporter. Mainly oil, but also gold, copper and others. Our service industry has been pretty weak for many years, with car making jobs moving from Ontario to Mexico and the US. So we've been dependent on Alberta and the resource-rich western provinces for GDP. Now, with resources down the drain, the $CAD went down with it... and our economy can't take much advantage of low oil price because the $CAD crashed with oil price, meaning we don't have much reduction at the pump.
In theory, the low $CAD should advantage our service industry, but for some reason it doesn't. Some say our export machine is going to kick in but it remains to be seen.
As a Canadian, good times are long gone now. I used to be able to have casino trips in Las Vegas and Atlantic City with a dollar at par, but now anything across the border is getting too expensive. A bottle of Ardberg scotch that cost me $80 before at the Duty Free is now over $100. Sad times for us Canadians.
This morning when I saw the market jumping back I was certain we'd be in a (manipulated) short term run up in the markets. I'd never have guessed would crash at the close like its doing now. There is a lot of big players playing a big game right now, even more than before.
I the King of missed opportunities here, no one comes even close! Also, every single stock I bought in the past few years went down. I didn't hold long enough to lose my shirt, but enough to lose some underwear!
Even if it's short term, I'm sure the same will happen to TC. It could jump 40% in a day and it would only be 20 cents!
So you go around and compare gold stocks to TC? Wow, you're really a genius. Why don't you use FCX for example as comparison just for fun? Also, I wonder why you call MUX a low quality gold miner, compared to other miners? So yes, gold is rallying and most gold stocks are rallying. It doesn't take a genius to realize that. Now, just check most coal and copper stocks and tell me what you see.
I bought 20,000 TC yesterday for a short term trade, I'm hoping for a 20% jump in the next few trading days... but the reverse could as well happen!
There's this thing called timezone and there's a world outside the US...
Exactly, if all countries that owned chemical weapons deserved to be invaded, you'd have more than a dozen countries right now under US occupation. Egypt allegedly has chemical weapons, but since it's a US ally it's all fine...