Re: Time to buy???
in response to
by
posted on
Nov 18, 2011 10:42PM
Creating value through Exploration and Development in the Sierra Madre of Mexico
Ah, the room has come alive.
Well, Flat, I always use limit orders, which is why I was able sell at 1.49 a couple of weeks back on an opening rush of exhuberance on someone else's part. Not you, I trust.
As mentioned, I've started rebuilding my position at 1.29. Doubled it at 1.19 and have a standing limit in for more at 1.09 that has missed by a few cents in recent days.
As for Cramer, I'm thinking an underling at CNBC in charge of producing web copy misheard his Lightning Round mention of Kirby, thought it was Kimber because of similar sounding ticker symbols, and put out the transcript. The Seeking Alpha author apparently reads the Lightning Round recaps, but doesn't watch the actual show. Can't say that I blame him. Regardless, Seeking Alpha Man might want to become Omega Man and end it. His analysis seemed weak, especially thinking it was worth mentioning the lack of a dividend. Earth to analyst: The only way a junior explorer can pay a dividend is by borrowing even more money and/or issuing more stock to produce even more dilution. The rest of his analysis was Grade School math. Surprise, Kimber lost money. Wow! Again. IT'S AN EXPLORER!!!!
But I do think this Cramer affair has hurt the stock and I've communicated that to IR Hamilton. Any prospective investor doing basic due diligence before purchasing, might check the Kimber page on Yahoo, see that Cramer doesn't like the stock and some Seeking Alpha type has piled on and might not bother to turn over a few stones to check further.
I've had this debate before with the buy-Kimber-and-never-sell-it types, but I think this is a good trading stock. I like its long-term future, too. but short-term, I really think if and when the European situation goes from boil to simmer, and our U.S. Congressional Cretins come up with some sort of grand compromise on debt issues, Kimber moves onward and upward.
I'm willing to buy on this current decline, optimistic that it all works out in a timeframe of a couple of months, tops.
And if it doesn't, then it becomes a longer hold, waiting for that buyout to come. There was a good article on theaureport.com mentioning how Kimber is setting itself up for a buyout.
By the way, try some Witch Hazel on those bruised feelings.