IOP up yet again
AGO SP at 1.9c on low volume yet again.
Yes im watching AGO as its a canary in the mine for IO producers. I was a holder in FMG in 2007 to 2010 bought at 2.00 sold out at 6.39 never been seen since.
I was buying AGO at 3.00 on my brokers advice and sold out at 3.30, yes I have traded AGO on upswings in the past. So when a stock drops from $3 to 2c its more likely it will rise if its doesnt go bust.
AGO has not gone bust and this deal has ensured its survival for another 18 months imho. The naysayers have been wrong for 12 months about it going bust. Even 3c to 4c was not a great runup.
When the entire market expects IOP to drop from 40 to 30 and AGO to go bust thats normally when the opposite happens as the herd is wrong most times. At record low IOP its easier to bet on a rebound than insolvency as statistically thats what should happen.
Lets see what happens this week if the IOP rises continue from 43 to 50 or drop in a heap as everyone expects.
Yes my shares are underwater but I have averaged down now so not by much.
Im watching.
61-53 = +8
61-58 = +3
thats called profit producing... lets see if they did cut COP further on a lowered AUS$ & lower expenses. Thats what I think. The 2 week SP rebound says the market thinks that also and its followed the IOP up.
AGO Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
