Maybe it's a combination of two habits; 1. I just tend not to chase stocks up. Bottom-fishing, especially at tax-loss time, has served me well, and this is the time of year I usually start reducing what I picked up in December. 2. I've been watching KRY for over a year, and steadily since early July, and while I kick myself for not playing last summer (had a finger on the trigger that day KRY was at 3.50-4.00), paying now three times the price would not improve the self-assessment.
But one thing I definitely won't do is short it, even at this level - one of these days that decision is coming (maybe Tuesday), and I see a strong chance that it will favour Crystallex, maybe even hand them the whole enchilada on a platter. There does seem to be a large short position (it would be nice to see accurate figures on that, eh), and a short-covering spike does seem likely. It would take considerable margin credit and nerves to hang onto shorts through that spike, until the reality of owning a gold mine in this market set in some days or weeks later.
For a better short, take a look at KLA.V, and the insider trading history of its principals. Also the charts of their previous companies.
And for a quality bottom-fish (spam alert -g-) - Minefinders;
207.183.153.73
............. cheers ................. marcos |
