fools Gone Bad: Jaguar Mining (JAG)
A mere three weeks ago, Jaguar Mining, the outstanding Brazilian gold miner was trading at $12 a share and had a 5-star CAPS rating. Due to a decline in the price of gold, JAG fell to $10 and lost a CAPS star. At this point, I hopped in with an outperform pick, as JAG has a $15 to $17 fair value, $10 is a compelling entry. Due to a slight mishap with one of JAG's mines, the market overreacted and pummeled JAG under $8 today. I got to add 500 shares on the cheap this afternoon and am already counting the dough from when I unload these shares back over $12 again... that's 4 months of rent for one mind-blowingly simple trade. Booyah!
But I digress... what do I see this evening? JAG loses ANOTHER star to a mere 3. What on earth is wrong with you people? If you like a stock at $12, why hate it at $8?! Everyone and their dog should love JAG here... yet I see people like Igbbanker and ArmchairQB cutting their outperform picks 30 points in the red. Dude there is a reason why you are in an armchair and not on the field... you don't sell stocks when they are screaming buys! Plus we have people like Synergize (98.28 rating) who are normally smarter than this (I hope) NOW throwing in a sell rating. This is as bad as the anal-ysts at Wachovia or JPM... well, the stock is down a 3rd, even though revenues doubled last year, will double again this year, and they turned their first ever profit last quarter--NOW is the time to sell, at $7.80--an 11 month low. You fools have disappointed me with your foolish rating of this company.