Monday, June 11, 2012

Buy TC at $3.35

Everyone likes to buy something, stocks or otherwise, at a price they consider a great value. And I have been researching Thompson Creek Metals Co Inc (TC) for a couple weeks now, thinking its shares may be available at a price that I would consider them a great value. Today that opportunity presented itself and though I was a little too excited to wait another hour for the best possible price, hey, I'm human and now I own the shares at $3.35.

My TSI Trading record has been updated.

Since the time of my purchase TC shares have fallen another dime to $3.25. But here is how it looked at the time of my purchase.

On the chart I have written a some of the fundamental data that I considered. Primarily, as I mentioned above, I see this as a value stock that has been incredibly beat up, investor sentiment is bleak, shorts are dramatically increasing their positions, and I would think at some point fairly soon the pendulum will swing in my favor.

However, if the stock market has a couple of more sharply down days following today's bearish reversal, I concede that TC may well have not hit the pavement....yet. 

Patience, as always.

And this daily chart of TC from with the buying pressure indicator Chaikin Oscillator and the Money Flow Index indicator.

Anyway, if you would like to do some due diligence on Thompson Creek Metals, here are some links to get you started on that journey. These links are not entirely favorable to TC, lest you think I am not interested in being objective.  :)

Well, I'm showing TC at $3.22 now with 10 minutes to the close. It's a route and I got on the wrong side of the parade. But I hope a reader takes advantage of this information and does even better than I do!



No comments:

Post a Comment