"Bottom is in"? Don't be so sure. Yes DNDN was majorly oversold. THere sales were good and will still make around 50-60% for the year to their target. They know what teh problem is so can work out methods to address it. Prima is that far behind that it shouldn't have effected PRR, but it did...plus stop losses getting hit thanks to (blah blah newsletter).
However markets are plummeting. Gap at 13c that may get filled in the near future.
It's a traders market (not investors) and picking the bottom now is risky business.
I think we'll see a bull trap/dead cat bounce come into play in global markets. Prima's fundamentals are great as we know (so far)...but so is RIO and BHP...their fundamentals are ten times better and if the market collapses so will they. Prima is not immune on a technical level...even though it is cashed up for trials.
Tread with caution.
PRR Price at posting:
15.7¢ Sentiment: Hold Disclosure: Held
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