| | | I offer it as an example. I'm hardly a day trader, but I have traded the swings for almost three years here pretty transparently. Part of the reason the swings are easy to trade is that the retail support and faith is unusually high and retail oversells and buys back with alarming regularity. However, as I have made abundantly clear, I don't think this company is worth more than a dime, so I would not be prepared to hold the shares even overnight at this point (one of my trades in fact was for almost two days...).
You wondered how the sp could have done what it did with no news or material improvement of the situation.
If the story materially shifts towards positive, I'm quite willing to reevaluate and perhaps invest in a long position. I think you have to be in denial at this stage to think this will turn around a) in this market, b) with the current crop of financial commitments, c) with management not sending clear, consistent signals regarding advancing the project and containing costs, and mostly d) Teck showing any sign of seriously moving this forward.
The latest Teck rumors almost certainly will signal some kind of acquisition in under consideration. No one can buy Teck with it's current share structure, but Teck could do some smart buys of producing mines to increase cash flow at the bottom of the market. Building SC or the like would be idiocy, while buying operating cash-flow properties would be smart. Teck has been pretty smart these past few years, I expect them to do something like that. |
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