Re: effects of positive ecuador news on K stock price..ideas?
in response to
by
posted on
Nov 11, 2008 01:39PM
Third largest primary Gold Producer in North America
since the old ARU is only a portion of Kinross,..any ideas as to what kind of a boost positive news from ecuador would have on the stock price?...thanks
FWIW, I think the rally we've just seen was part earnings related, part response to the news from Ecuador. Whatever it was, I used it to cut my exposure because the other golds aren't acting well, and neither is the overall market. If this rally breaks 18 I'll be very surprised - lots of resistance up there. I think it's more likely we just move sideways for a while.
If we do push through 18, I'll use it to unload the balance. Kinross may be in favor right now, but I tend to agree with Ecclestone's opinion on Ecuador: they're basically toast.
How this affects Kinross down the road is anyone's guess, but I'm done hanging off Correa's every word. There's a lot of value in the market right now, so who needs Ecuador? They had their chance and they blew it. A Guinness World record for stupidity on a national scale.
So, as I said I would do, I rolled some into AEM, and sold the rest down to the sleeping point. For me, the saga of Aurelian is now officially over.
ebear