Agree. The next big milestone will be the FY numbers and the market reaction to it.
I have amended my order to get out below break-even. I want out asap. There's every chance it could run higher than we think upon FY report release (or lower, heck) but Boart's a mess and I've learnt that drillers are a flaky hold at the best of times. Much like airlines. In a mining upturn cycle, which is when you want to hold drillers, the miners themselves are a better buy imo. Service contractors may have higher beta during those periods, but just as easily could be lower beta, especially if they are run like Boart. Such a monumental mistake for me which has eaten me for longer than a year now. I mean heck what was I thinking buying into a company with 26B shares issued for starters. This is definitely my flagship career trading mistake which I've heard and read so much about from other traders.
But who knows, maybe Boart is on the verge of a good period and will stage a mighty recovery. This is the stock market and what's not supposed to happen happens all the time. I am bullish on commodities which bodes well for Boart, but who would count on this dog doing anything right.
BLY Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held