Don, go back and read this:
techstocks.com
This type of offering causes market volatility. I mentioned before that the price of the stock climbs fast, as it did that day. And that causes traders to short into the volume. When the deal is done, you see a massive retracing, and than covering of shorts. When the CYP.RT start trading, than that acts as a sort of hedge against movement.
Right now it's a traders game. If you own it, consider selling into volume, and buying back low. {If I remeber correctly: The last time I seen this type of offering was when RYR/ICL both from the same 98 Corporation. There was massive action for two weeks, with a large 25% shorting.} This is a shareholder dream, but only if you sell at the high, and on that day.
One problem I mentioned, and continue to mention, is that news releases are often held {SPEC:By the VSE I presume} until the end of trading day. If you go back to that quoted thread, somwhere near there you'll see that I mentioned {I suspect a news release, but can't find it} And I did the same yesterday. Obviously the brokerage houses know about these releases, yet I could only get them at the end of day.
What day do you want the houses postions for: last month or a certain day? |
