Replies to post #39707 on Zeev's Turnips Patch-No Politics (ZEEV)

[neljmar]

I listened to the conference call from OMG and they sounded
worried. Over-supply of refined cobalt, stalling aerospace demand, closing of unprofitable plants that have been operating at a loss etc...But it seems that the herd did some serious punishing yesterday and I'm a glutton for punishment: bought at 9 stop limit at 8.4 praying that it retraces today. This is from someone with a very bad record of trading... follow Zeev. For example COCO is in the Briefing this morning and he has been talking about them lately.

[Paul A]

Debt is a big '?' but I think the biggest reason for such a huge haircut had to do with the company coming out a few weeks ago defending the stock and claiming they had no idea why it was selling off etcetc..

They trapped all those people into holding and then hand them a pile of steaming crap like they did yesterday? That was cold.. so I think people just sold wrecklessly..

Im just playing it for a bounce over the next day or two, but definately not marrying this one.. Id love to see it bounce back over 10 so I could short it.. I think thats what will happen.. It seems to be holding 8, so I may put a buy stop at 9, and then just set my stop at 8.70 which is where I got in yesterday..

good luck!