RE: Tuff to liftThere's a bit of resistance to overcome at $15.00
I sold this at just under $15.00, as I thought there might be a bit of a pullback (I targeted for a 10% pullback).
I bought back in a few days ago at $13.43 with a 50% larger weighting than I had before.
If the economy begins to take off a bit on more solid fundamentals from the US and continuing economic growth in Asia, then I think this stock will have the strength to push through that $15.00 resistance (which is why I bought back in). I still think molybdenum demand and prices play a big part of the valuation of this company, notwithstanding the benefits of the upcoming copper/gold mine. Molybdenum will firm up with improving economic fundamentals.
Other than dismal unemployment figures (which are a lagging indicator - fwiw), the economy in the US seems to be picking up a little. Also, from a technical standpoint, stocks historically do well in the 3rd year of a presidential term.
Personally, I'd be a little patient here, as I feel this stock is poised to push through the $15.00 resistance sometime in the first half of 2011.