GREY:MLKKF - Post by User
Comment by
jims101on Jan 22, 2008 3:23pm
310 Views
Post# 14244064
RE: Silence
RE: SilenceBase metal miners really took the hit the last couple of days, out of proportion to their risk, I'd say...ML is off 11% and can't move past unchanged today and CS.to (my other dream gone bad) is off 15%. I did get more of the later near the lows today....I suspect to see reports the company (CS.to) bought back additional shares, something it has done on severe weakness in the past.... I suspect these issues will stay under pressure until the forthcoming recession is fully discounted, late in the first quarter...By then CS should have surprised with it earnings growth and ML will be that much closer to its own earnings expansion.
The point and figure objective now for ML is $4!!! The computer model apparently doesn't know anything about MOLY...Wouldn't surprise me to see something in the sixes upon further news of economic slowdown, Copper decline to $2.80 and further panic selling as this bear market rolls out...Keeping my powder dry for that event.
https://stockcharts.com/def/servlet/SC.pnf?c=ML.TO,PLTCDANRBO[PA][D][F1!3!!!4!20]&pnf=y