i'm soooo bummed i can't get shares to short. looked at the filing today. practically no earnings growth and a 80 forward PE. (8M US in earnings against 13.5million shares. .59/yr earnings against share price of 48) http://biz.yahoo.com/prnews/070919/dcw044.html?.v=1 look at the y/y numbers. Thats like 10% earnings growth. Stock is at least 6 times above fair value (which is 8-10) for some reason IB isn't letting me short CPSL and JRJC like yesterday as well... maybe everyone else is already short... perhaps its a sign to wait a little. believe it or not, this stock makes JRJC look cheap.
I was watching this one on Friday, and thought about getting in on 02 October, after it closed at 16 on 01 October. I woke up late, and found the stock trading at 22 on Tuesday, so I passed. On Wednesday I gave in, and got in buying 400 shares at 37.30. Sold today, Thursday for 46.95. I thought about staying in for 48 minimum, but these moves are dangerous in my opinion. It is easy to get sucked in and find yourself with a large loss versus.
The larger mine is equivalent to about 30 football fields, and the smaller one is the size of about 2 football fields. You must live on a ranch in Montana if your back yard is that big!
The the company just said there have been no new developements to explain the stock's move. Can't get shares. Shit.