RE: RE: Why did you buy?regarding my overdone comment:
I am not a technical trader but do consider technical factors for the companies I like fundamentally. TCM is oversold on a fundamental basis. The price of moly has stayed about the same level for several months now yet TCM share price has started to tank. A combination of Aussie new tax, sell in may, impatience with TCMs planned aquisition, roaster shut down for maintenance, technical breakdown and panic selling??? Nonetheless I have complete faith in TCMs management and the future of molybdenum. For these reasons I'm happy to be buying back in today. I was totally shocked it fell so far so fast today. TCM is usually good at not leaking news so I'm counting on this move being unrelated to any fundamental problem with the company.
There's been a little talk about them buying out GMO. I would LOVE that as GMO is my largest holding and TCM warrants are now in 2nd place. If TCM buys GMO it would be a win win. It would certainly keep TCM as the largest primary Molybdenum producer :)