Hello Bill......Good question asked! No question is too stupid or naive when it comes to your hard earned money!
First off there is no way of telling if the houses are doing retail buyin or accum. for themselves. Technically speaking the shares that you think you hold in your acct. you don't! Your broker holds them for you in trust and can do what ever they want at any given time with them.
What I was getting at (I'm the first to say that I don't explain things well) is that usually the houses accumulate or jockey into position in Dec. (tax loss season). The brokerage houses job is to sell to us peasants High and Buy back from us when it's Low! If you reverse this trend, you'll win everytime along with the houses!
Since Sept. 15......Canacrock has bought 325,000 shares (avg. cost .84) more than it sold. Greenslime bought 128,000 more shares, Nicebutt is plus 118,000 and Midland is on for 46,ooo shares. Now on the other end of the spectrum Yarktoon has sold 236,000 shares more than it bought. Royal Bunk is in the hole for 150,500 shares and Levesque (Jitney House) is down 86,ooo shares.
What Diger and I are sayin is that usually, Stupid money sells off when the houses are buyin and stupid money is buyin when the houses are selling. This season their will be alot less shares for sale and the houses (accumulating) has started early. This should thin out WSP and give it a better jump come Jan./Feb.
It's nice to see the shorts all covered up, I think that what we need now is a strong budget from Management for the upcoming Winter Drill program and I think that you'll see a nice little runup in price to the $1 1/2 level.
Happily Long on WSP...........FIXER |
