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Gold/Mining/Energy : Chesapeake Gold (CKG.V)
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To: loantech who wrote (529)5/14/2003 11:10:58 PM
From: Elizabeth Andrews  Read Replies (3) of 7835
 
Tom, please. Many institutions bought FGX. It was underwritten by Nesbitt Burns and distributed to institutional buyers. When the Glamis offer occurred the arbitrage boys saw the opportunity and bought FGX to end up with Glamis. Now they and the funds are going to unload CKG because it is relatively overvalued. They may keep Glamis but they will sell CKG. By the way, the Prudent Bear Fund has somehow accumulated over 2 million shares of CKG in a period when it has barely traded that much. Did the CKG stock come from the CKG insiders? That would be a bad sign don’t you think? That is your clue about what's happening in the dynamics of the CKG market. How did the Prudent Bear Fund get 2 million shares in the open market? Jeez Tom, you have to start really thinking about these things to make money.
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