I can't believe this...Hi Everyone,
This is unreal. Seriously, the selling is on puny volume, and it is so damaging. Some manipulator knows where the stops are, and is lovingly taking them out without remorse.
Technicals gave me a buy around the $2.70 mark, then the $2.10, and now at the current $1.85 level. Poor showing doesn't even begin to describe how ORA has underperformed the gold sector since mid-May. Maybe the better strategy here is to buy another 1/3 of the position here to average down to ~$2.22, and exit the position on a bounce over the summer.
There's a couple things I can still feel optimistic about:
1. Yamana's holdings ~$3.50
2. Analyst Estimates of: Low $3.00; Mean $4.00; High: $5.00
3. Past support of ~$2.00 in Oct 2006, and then the rush through $2.00 in Apr 2009
4. Improving production in Q1 2011
Hopefully, from a techncial standpoint, we're going to define a bottom around this level shortly. One insider bought $5,000 worth yesterday (a better sign).
Either way, disappointing is an understatement.