Phil, You wrote
<The only thing PFG and KRY seem to have in common is that they may not have any big news out for at least a few months.>
I don't think so, KRY is supposed to have a great deal of news in the next few weeks, if everything plays itself out the way most KRY shareholders seem to envision. I for one think you will find KRY to have an interesting week coming up.
The sell-off by Nesbit also had quit the opposite effect on KRY as it had on PFG, KRY reaching a price gain of about 0.50 while PFG lost about as much.
I would think that this is nothing but coincidence, Nesbit was found to be a big buyer of MSR, (a company I know very little about btw.)
Just my opinion, I sold most of my PFG a few weeks ago, believing that it would make sense to play the volatillity that comes about when in a nervous market, there is no news for a while. But when I did so I was hoping to get the oppertuntity to get back in at a more favourable price level. I doubt it will get much better then this. Just my luck that I never found out about fridays action untill after the close.
I will put a low bid in monday (3.00 or so), as it could very well be that they are not finished dumping, why else would you sell of that many shares in one day. They would have been able to get a much better price if they would have taken a week or so to slowly release the position in to the market. Makes you wonder doesn't it. I doubt very much that anyone would be dumb enough to sell that many shares on a rumour that can not be substantiated.
All the best, Robert |
