A long time ago when Taurus was buying as the share price kept tanking I said that AMX was simply an investment that had gone badly wrong for them and they were just doing what novice (or greedy/foolish) investors do, they keep averaging down. Others kept saying that Taurus had special insight into this sector and one should follow their lead.
The only hope for AMX was to do what I had mentioned a number of times - stop spending and go into hibernation until the POG picked up and was consistently above $1500/ounce.
Congratulations go to those who recently bought at below 8 cents - they will make a good return.
Commiserations to long term holders who have watched their wealth evaporate.
The lesson - have a 10-20% stop loss and act on it. Do not re-enter until there is a clear uptrend, unless you know how to trade a bounce.
Good luck to all.
AMX - RIP, you once great goldie star.
Perhaps we are getting close to a bottom for the POG. Chinese demand has been much stronger than what I had believed would occur. Is it real or just the temporary outcome from their excess credit creation? I dunno, but they are carrying the slack caused by a fall in Indian imports.
loki
AMX Price at posting:
7.5¢ Sentiment: None Disclosure: Not Held
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