Close to stupid...thank you... I got out on the recent run up and I am waiting with cash for more stupidity. As I said in a recent post...I can no longer trade purely on fundamentals...I now need to leave room for stupidity and stop loss selling. Let me understand the issue here...annual massive reserve additions including the latest one which only added 10% and higher grades...no debt...140 million in cash...positive cash flow...quarterly annualized P/E ratio just under 7...close to 52 week lows...ratings of 1.9...targets that are 100% above current SP...unlimited world wide money printing with no end in sight...continuous central bank purchases by those in cash (China...Russia)...negative GDP in Europe, Britain, Japan and the US (which further exasperates the decline when combined) so no end to worldwide QE infinity...recent (as in last week) additions to long hedge fund positions in gold...and you want to bail so that you can buy into the Dow at all time highs? You're kidding me right? As I said...I thank you for your stupidity. Now I just have to question whether the strike point is 2.50 or 2.40 or 2.30. It won't go lower because then even all the trading algorithims recognize the stupidity and kick in their buy signals.
Honestly people? Who sells now? Whoever you are...thank you!