<<BAY is trading at the same price it was over 7 months ago. >>
True, except that now, this price zone is major support rather than major resistance.
<<Can anyone remind me why I am still holding this stock?>>
I guess because you want a participation in the silver market. But if you really understand the fundamentals of BAY, you know that the stock has true potential.
<<I never expected to have to tie my money up for a year when I bought this stock>>
All stocks go through periods of consolidations. Since I started with BAY at $0.49, this one is the longest one.
However, it looks like the uptrend has resumed, slowly but surely.
ormetal.com
Albert,
May I suggest that you compare this chart to the chart of all other silver plays (PAAS-PAA, SSRIF-SSO, CDE, SSC, HL, SIL, FSR and others)or gold plays if you prefer, you will realize that BAY stock is acting very well.
Also compare it to the stock chart of Yahoo, Amazon and other high Internet flyer in thos past 7 months. You will have a nice surprise.
We are going through exceptionally tough times in the mining sector. Still BAY has remained in an uptrend for almost a year. This is no small feat. Even if the metals continue to lag, I think BAY can still move higher. Now what if silver starts to move up as well?
Nobody can predict a stock price. The best we can do is to complete a carefull analysis and base our investment decision on it. I've done so and that is why I am still holding BAY. Does that guarantee that BAY will reach the $10 target I now have or that it will even just move to $4-$5? Certainly not.
Mining is a very speculative market sector and there are no promises that can be guaranteed. OTOH, it is true that a single drill hole can change the big picture and increase by several fold the value of a company. That is why I invest only in mining companies.
Now would you like to discuss the possible impact of the new high grade discovery to the south of the Alamo Dorado deposit ? |
