Post by
auburn2 on Aug 13, 2018 2:39pm
Don't get swayed by the sentiment
This selling is driven by one seller whose pants were on fire to get rid of almost 800K shares ASAP. BBS was there to buy up most of what was being sold, but WHO decides they need to dump 800K shares in a single day? Expect a reversal of this trend later in the week as that seller seems to be all out of shares and the next largest seller had only a relatively paltry amount to sell.
Remember that they have over 100,000 ounces hedged at $1277 gold in addition some other ounces with a $1250 bottom.
Comment by
auburn2 on Aug 13, 2018 2:48pm
ALO chart has a history of bottoms being marked by very high volume as we're seeing now. If you want to lighten up I'd wait for $1.60 and I believe you'll see that quite soon. The company definitely isn't under any stress and were Ana Paula a standalone company it could easily command a higher valuation than the current market cap of ALO.
Comment by
ValuePumpKing on Aug 13, 2018 3:16pm
Agreed Auburn, actually more volume on the NYSE today then friday. This washout looks to be over! Interesting that BBS has picked up all those BMO dumping shares, looks like a new fund holder! I grabbed more today! Im not scared, I see this as an opportunity! Also expect company insiders to be buying shares next week !
Comment by
puma1 on Aug 13, 2018 3:28pm
that huge dump is coming from BMO
Comment by
puma1 on Aug 13, 2018 3:40pm
i am sorry but i do not know what the old target price was at BMO, but it looks like today they came out with a downward revision...................................... new target is $150. hard to rconcile with the TD who also just revised but their target is $4.50???????
Comment by
Flopticalcube on Aug 13, 2018 3:50pm
Broker targets: a monkey with a dartboard has a better chance.