MEG (Megaworld) and GEO (Geograce Mining) have fallen far.
MEG closed at 2.7 and GEO closed at 1.26 after seeing highs not to long ago in the mid fours for MEG and low threes for GEO. Not a pretty sight.
But these still remain among my favorite stocks particularly because they trade in very high volumes. What I like the most about them is that they are all over the place. They go really high. That of course means that they also go really low and that I time, I think is now.
Most of it, for a guy like me, is a waiting game. I'll pick it up when I think its low and let it go when I think its high. Too bad I'm all locked in and positioned. This would have been a great time to buy in.
What keeps me sane in times like these, is that I know that both these companies have good enough fundamentals (or at least I think so anyway) to keep them trading within the same range, or better than the year before.
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