And if anyone is dumping the material names because of Alcoa, which never could shoot straight--then your logic is wrong.
AA cut back so drastically because they thought they were going out of business, and then management patted themselves on the back for the recovery.
So AA had some costs that they had to absorb.
Heck, Paul O'Neil used to run Alcoa--so why would anyone use that as a proxy?
In any event, the X bulls thank you for the stock this morning!
And in credit land, the CDS on AA have tightened, leading Zero Hedge to give the erroneous conclusion that stock prices have already discounted the recovery.
Alcoa went down, because they didn't have control of costs, and CDS tightened because they paid down $700+ million of debt, and they were cash flow positive.
What is with these bears? Always seeing the shadowy, scary picture, all gussied up in intellectual gobbledygook!
mlco12012010
12 comments:
wow...why did the columbian company take a 20% drop today?
What options are you playing with STLD?
You said they were cheap a few days ago. Now they're cheaper.
boy it's not easy being a holder of LIZ
Hey Palmoni,
I just read through the new 8k filing from that Colombian co.
This short paragraph caught my attention "We successfully raised $3,173,000 in our last private placement which closed in October 2009. We are currently in the process of pursuing a $20,000,000 capital raise through a private placement offering."
Have any ideas who the investor(s) might be and how close is it to being finalized?
They are also ordering the 2 crawling drill units and it should arrive sometime in March. I'm taking it that the technical survey should be completed sometime in May for the Zaragoza project?
How significant is the San Pablo Mine? I read that it is shut down to do upgrades to expand its capacity.
Are there any other properties/projects that the company might undertake that wasn't mentioned in the filing? Thanks!
2 million shares at 10
Find out who plays bridge with Bill Gates
It can't really be him! $20 million is like chump change to him unless you are referring to the woman.
are we just getting a short term correction here?
how far do you think AXL will fall back before heading back up? looking to get in but having a hard time finding an extry point. thanks
Not the Nebraskan partner, but a very substantial one nevertheless
I think the correction ended about 20 minutes ago
STLD Feb 20s
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