This has been doing well and also has recently reported earnings. Anyone know why, on a general up day for gold and equities, it is down today? Was there some negative guidance?
go down after they go up and up after they go down. its normal. Expect to see some profit taking now for EGO since it approaches its top area. It can easily fall back to 17 or 16 before the year ends. I expect that traders are playing it like that. they bought at 15 and are selling at 20. rinse and repeat.
I was thinking it could be some profit taking also.
Yesterday Market Wire noted along with their earnings that their production numbers
for 2011 would be 650,000 instead of 700,000 plus, but they forgot to mention this
info was put out by the co. Oct. 12. The report made it sound as though this was new
info. It was later corrected by Thompson Reuters re prior guidance date. If it had not
been for this reporting ERROR I believe that EGO would be up and not down!!