TSX:LSG.DB - Post by User
Comment by
knowsnothing613on Jul 23, 2011 1:36pm
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Post# 18865037
RE: RE: RE: RE: TD Maintains LSG at buy but cuts t
RE: RE: RE: RE: TD Maintains LSG at buy but cuts thttps://www.google.com/finance?q=lsg
click on 5 year..
LSG recently broke it's 2.60-2.80 support.
Next support around 1.40-1.60 (May 2009).
No, I didn't buy @ 2.00. I'm bearish on the global markets. I expect a lengthy, and major market correction in 3 weeks, post earning seasons. So I'm 90% cash.
Buying @ $2 (800M market cap) seems risky, given the recent mining news, and expected bad news on Aug. 9. Expected output ranges from 85K-100K, from former guidance of 125K. That's quite the variance, and indicates uncertainty from management, or trying to spin likely bad results of 85K.
Like I said, I expect the markets to correct, and if they do, I can buy better less risk plays for a safer double. And if the markets don't correct, and I'm wrong, there are always junior venture stocks to investigate. I've been trading for 2 years. I made profit. I'm in wealth protection mode.
However at 1.50, LSG Risk:Reward profile seems more attractive.