RE:RE:RE:RE:RE:RE:RE:RE:Bought the FinancingConspiracist - first, nice post. That''s rare here, most of what gets posted is just bullish (or bearish) tripe geared at generating emotional responses in readers who don't have any other basis for making decisions. Years of dealing with that have I supposed turned me into something of a troll LOL.
In any case, in answer to your questions about the timing - the reasons I don't think this is done yet are:
- The entire sector right now is looking very shaky and sitting near or below support lines that, if
they don't hold mean more downside is ahead.
- The US dollar has broken above some resistance lines after a major selloff, so it has room to
move and is showing technical strength - bad for PMs
- The major indices are exploding higher - money's pouring into tech stocks and US large caps
(with good reason, very business-friendly environment now, regardless of opinions of the
president), so very little interest in PMs
- In years and years of experience with PM stocks, I've never seen a v-bottom after a financing,
even in a bull market (which we are NOT in for PM stocks)
So it hit my 'at least' target, but it hit it WAY TOO fast for me to feel like that's the bottom. Because if silver loses 3 bucks over the next month, there's no way, regardless of earnings, production cost, etc... that these guys are going to buck the trend in the sector.
If and when there's an actual bull market in this sector, there will be plenty of money to be made and being in at 1.65 or 2 won't make much difference. But until then the whole sector's an exercise in knife catching, and that in my experience is a very very bad idea.
If I'm proven to be wrong, I'm fine with that, actually happy - I'm not trying to catch the bottom, I'm trying to catch the trend.
Finally, I am in fact seriously angry that they did this ridiculous financing, after misleading retail investors into believing they'd be self-funding through cash flow, and that they did it on such horrible terms and at such a terrible time. AND I really loathe the cheerleading 'yay what a genius move by management' that gets posted here - hence the trolling. I actually bought back in to EXN based on a long history, but have been out for years and wasn't aware of the management change - my bad. I probably never would have bought back in if I'd checked that first.
And sure, I'll post if/when I decide to get back in.