I think in many ways AGO is looking damn good to break past 2 bucks (especially if the rail plan is announced soon), although I think there is significant risk we may see a short term turn around. I think this will depend on the 6 monthly report.
I decided to take my profit and wait for a possible re-entry in case the 6 monthly disappoints the market (iron ore prices did crash pretty hard). The market has had such a great rally and is at risk of slowing if earnings reports from other companies weigh it down, or investors start taking profits for fear of a retrace. And although the global outlook is strengthening there is still some soft data floating around which might make people skittish.
AGO Price at posting:
$1.85 Sentiment: None Disclosure: Not Held
