=========== AUY Probably will ABX lost about 2 billion bucks on wrong hedging during this uptrend, but they learned thier lesson.
This stock is notorious for messing with traders, suggest you tread carefully or better still daytrade it between support and resistance points.
Decoupling from the market big time, if this is the real deal the catch up to the physical will be violent and quick in my opinion. All those patient with the miners are poised to be rewarded.
Shorts covering... Let's be honest this should have been at 30$ like a year ago or so. Or am I just projecting...?:eek:
this little engine that could should've done alot by now, it's having a great run up but am afraid once gold comes off it's highs it might just revert back to it's old way.
A smart but deranged trader at the first prop firm I was involved with was obsessed with trading this stock. He lost money on it net. A colleague I worked with later also tried to speculate in gold but via this specific miner. He also lost money, painfully, regardless of what the commodity itself was doing. Not sure what it is about AUY, but I'm biased against it based on those irrational reasons.
Check out DROOY. That's probably the worst gold stock in history. They have a PE ratio of 3, they actually pay a dividend (LOL) and its at the same level where it was when gold was at 500$ an ounce. I don't own it but really say gold goes to 4K it has to go up like 1000% or so.
Im not so sure. Been trading AUY for quite sometime and know others that have been trading it much longer, seems it defies logic.