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I can check under stockwatch tonight, but unless it was filled, I doubt it will show up. Actually (so far) PVO has held up even with most stocks tanking. Check out the WSP, SJD, ESX etc threads, and see the carnage. This is a junior market melt down, that has been affected by a number of reports in major financial papers that suggest VSE stocks that have little funding should be avoided. Many investors are running for the door, thus precipitating more selling (a melt down, in my opinion). It started with Bre-X, and now the market has come under closer scrutiny, with some opinions suggesting that Vancouver is still the market scam capital of the world. The value in a lot of companies is often determined by hype and rampant blue-sky speculation. Thus, there is no floor to a lot of these stocks at the point where the herd decides to exit through a very small, and closing, door. The very best comment I have ever read on SI goes something like this "Stocks are almost never fairly valued. They are either way under valued, or way over valued". That type of market behavior, in my opinion leads directly to what we are now observing. For example, SJD was halted on Friday, and after a good news release it reopened Monday, and promptly rose to around $5.55. It then reversed direction, and today I received a stockwatch alert that it had reached my low trade indicator set at $4.25. This occurred after a recent PP at $4.50 by several major mutual fund companies. Ask yourself, what is the true and fair value of SJD. Is it $4.25, $5.55, or perhaps $2. You choose. It is presently not governed by true fundamentals, except for the substantial cash position that it now holds. I used SJD as an example, and not because it is a bad stock, quite the contrary. As far as selling PVO is concerned, it is almost impossible at this stage to deduce anything from a large position on the offer. Perhaps it will go down, perhaps not. Certainly it will be influenced by how eager the seller is to part with their position. Maybe they need to cover margin calls.Anything goes in the market at this stage. One bright spot is that the DOW is up, even though the TSE is down, as is the VSE. Another bright spot is that David Henstridge has a significant position in his company at much higher prices. If he is selling at $1.85, then he is losing even more. If he really wanted to tank PVO, then selling in todays market is the way that he could achieve it.
Regards,
Robert |
