I'd agree this is getting a bit irrational. ASL downgraded yesterday but the numbers weren't disasterous. BLY was 54c at the bottom of the GFC whil faced with real chance of extinction. Now they are looking at some lean years but hardly an extinction event.
There's probably a short term trade in there somewhere, and a probably a long term hold as well. But you really need some decent balls to buy in the face of a mad crowd.
Macquarie have come on board as a substantial holder - 5% - and another Canadian group have been picking up a few shares recently.
Do they see something we don't? I'll be interested to see if people are willing to hold into the weekend...
The lower the price goes the more attention BLY is going to get, and as long as the facts have not changed it will eventually get priced rationally. In the meantime, batten down the storm hatches and wait out a few weeks...
Hold at $0.96. If drops to $0.60 i will average down.
Cheers
After some pondering over a cup of tea and a biscuit, I decided to exit my BLY position today at $1.02 for a small profit. The steep price drop in ASL over the last few weeks makes it a far more attractive bet compared to BLY. BLY out ASL in - hopefully this will play out like before Xmas.
Going to keep my eye on BLY.
Cheers
After some pondering over a cup of tea and a biscuit, I decided to exit my BLY position today at $1.02 for a small profit. The steep price drop in ASL over the last few weeks makes it a far more attractive bet compared to BLY. BLY out ASL in - hopefully this will play out like before Xmas.
Going to keep my eye on BLY.
Cheers
Primary resistance 78.5, but if that is broken, it should head North of $1.
Of course they have a high failure rate if they don't break out. That's like saying that stocks that don't go up on a given day have a high rate of going down.Could be an interesting little double bottom which will be confirmed if it breaks your 78.5. DBs have a high failure rate unless they break up, particularly short term ones like this, so I would wait for the confirmation if I were to buy these.
Cheers
Country Lad
Of course they have a high failure rate if they don't break out. That's like saying that stocks that don't go up on a given day have a high rate of going down.
Could be an interesting little double bottom which will be confirmed if it breaks your 78.5. DBs have a high failure rate unless they break up, particularly short term ones like this, so I would wait for the confirmation if I were to buy these.
Cheers
Country Lad
BLY - Grab this stock above 0.7525. All set to move to 0.890 - 0.970 levels soon
BLY - Grab this stock above 0.7525. All set to move to 0.890 - 0.970 levels soon
AAX - Worst seems to be over in this stock. A close above the resistance level of 2.265 will be very positive and will see 2.660-2.750 levels soon.
...no its EBITDA interest cover is 12-13 times
can take a fair bit of beating on earning....their cost initiate should paid off
in the next 6-12 months and stop outflow
BLY was 54c at the bottom of the GFC whil faced with real chance of extinction. Now they are looking at some lean years but hardly an extinction event.
There's probably a short term trade in there somewhere, and a probably a long term hold as well. But you really need some decent balls to buy in the face of a mad crowd.
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