Joy Global's Recovery Is Too Slow for My Liking

I purchased these Jan calls on Joy Global (JOYG) early last summer in order to take advantage of the benefits to coal mining firms of high oil prices and worldwide demand. Unfortunately, not long after I purchased these, Joy Global announced that its next two quarters (the remainder of 2007) would be adversely impacted by the weak domestic coal market and its shares took a hard hit. I have held these calls (having little to lose) for the possibility that fundamentals would cause this stock to recover -- it has, but not fast enough. I finally sold this week in order to recover some of the investment.

Comments

[elliot_mllr:]

You can take solace in the fact that these days you probably would have lost money on virtually any calls on any stock in any sector.

2008 Jan 21 09:59 AM

[Greg Pinelli:]

OK..So what? In what way does this little investment confession address the investing Alpha public? There seem to be number of "contributors" on this site whose sole function is to have their picture on a financial Blog!
From my perspective here's the deal..
1. Give us some insight into the current invetment environment..and how it affects specific investments..
2. Point the readership towards those vehicles most likely to do better than others in the environment...
Otherwise, save your personal trajedies and triumphs for someone who
cares.

2008 Jan 21 10:08 AM