GREY:PTQMF - Post by User
Post by
DetVicMackeyon Oct 15, 2010 10:46am
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Post# 17568860
Earnings Pop or Drop?
Earnings Pop or Drop?The stock has consolidated pretty well after the production numbers news release. From a technical standpoint, I think the stock is primed for the next leg up. Large volume gap up and low volume pullback. I think a gap up to
.70+ on Monday is possible, but a gap down to
.45 is not out of the question either. I'm not even qualified as an amateur trader so don't take me seriously here.
Fundamentally, I think sideline investors will be looking for production of 15koz in the quarter cash costs under $650/oz and a restructured balance sheet. Expectations aren't that high so any good numbers may be better than expected especially if some bidders become trigger happy. Sentiment on this board isn't overly bullish still. I think we'll see ~16.5koz produced at costs ~$575/oz. I believe we won't be seeing today's prices again next week or beyond if my numbers are hit and gold is up. Anyone care to stick their neck out?