RE:I’m bailing on thisNope.
this is where you buy, not sell. How do you know? Because you’ve finally reached the point where the losses are so hard to stomach you want to bail. The time to have checked out was when you weren’t wanting to. Jmo but I’ve been through this rodeo in miners and base materials in 2016, 2009...
thr only reason to bail would be bankruptcy or heavy liquidity risk, neither of which is present in this name. Now in certain other CDN names, there definitely is that risk, and the whole space is paying for that right now. For CJ The cash flow crunch may last a couple qtrs, but they were prudent over the last year and reduced the revolver enough so they can re-draw on it in these tough times. Not ideal, but they have the b/s to ensure there is a floor and baseline for significant recovery.
if Friday wasn’t a capitulation day, we’re very close. There’s not many towels left in the laundry hamper for investors to throw in this space. Friday cleaned out quite a lot.