I was very skeptical to take a short in noble yesterday because I saw a panic in the price. My friend was asking if I am shorting to hold overnight and my answer is no. Many would have shorted when the price in noble started crumbling yesterday to only realize to cut loss this morning. Today noble rebounded and of course I was not injured because of my mind reading skills. It's better not to go through reactions than getting slaughtered for nothing. :)
Noble: FY2011 Net Profit Down 29% To US$431.3M.
28 Feb 2012 17:25
Noble Group Ltd continued to reach record levels of volume and revenue during the year ended 31 December 2011. Volume and revenue rose 19% and 42%, respectively, in FY 2011 compared to FY 2010. Total operating income of US$1,577 million, the second highest in the Group's history, was driven by the growing Energy Coal & Carbon Complex and Oil, Gas & Power divisions in the Energy segment. The largest investments, such as sugar mills in Brazil and coal mines in Australia, are building output strongly over the coming years, boding well for group performance. Net profit of US$431 million, illustrates the ability to manage risk exposures in even the most volatile of markets while continuing strong volume growth...
Ronald K - Market Psychologist - The Big Speculator
