I expect it to break $11 before I think about adding more.
That is what I have been thinking for the last few weeks, that it will go into the mid-$10s. But since then copper has taken a big hit and the China crash and uncertain economy going forward aren't going away for a while imo so that will scare out a lot more Teck shareholders over the next while. That's why I was wondering if anyone thought tck.b could get down into the $9's or lower.
My thinking on "when it becomes too low to stay there" is that Teck is still a respected company with high sustainability rankings. It also has deep-pocket Chinese friends and an authorized share buy-back program. Add to that Teck's reduced dividend is starting to look attractive again on a yeild basis. Lots of money seeking yield and when Teck restores it's full dividend thats a huge bonus, possibly doubling your yield. Right now the (reduced) yield is 2.6% at $11.38. If tck.b goes to $9 then the yeild becomes closer to 3.3%...quite attractive with a lot of capital appreciation upside. I can't see the SP going lower than $9 unless we have a global calamity.
I might start nibbling in the low $10s hoping for momentary dips into the $9. Well see, this all could happen within days with everything that is going on. There is an entirely different market sentiment this week. Anything can happen...madness of crowds is still a human condition.
