What makes you think it has hit the bottom?
What makes you think I think it is at the bottom? In fact, I said in my post:
Lows for CSMA re: last fall were .16. A few months ago we would have said .50, now who knows....40, .30 ? I have no idea.
It is certainly at a low, relatively speaking, but I certainly can't say it's at a bottom. This is classic low volume sell off producing lower lows each day. What is most disturbing is: 1. the last time it was lower than this was, as KZAP said, after a 300K block sale; and 2. the last time it was lower than that was after a certain unnamed individual had shorted it down to the teens.
I'm frustrated because all, and I mean all, of the fundys are better today than they were six months ago. Six months ago CSMA wasn't reporting. Six months ago CSMA was facing a legislative labyrinth to get Class V approval. Say what you want about LPS and the oil/gas ops, but six months ago neither of them existed. Six months ago AdHatters wasn't growing at its current rate.
Today AdHatters is planning to expand by a factor of 10; LPS has an audited asset value that has increased from 4 to over 5 million dollars; the Class V well has been approved, requiring modest modifications; a clean shell has been identified to merge and become a fully reporting company; a number of sites have been identified for gas production near term and oil in the future.
Yet six months ago on the 18th of November 1997, CSMA closed at $2.30 and on the 18th of May 1998 it closed at 49 cents.
I can accept the absence of correlation, but this damn negative correlation makes absolutely no sense.
The one saving grace is the DD is there and has been further validated. The stock price isn't. To quote GaBard:
do be do be do
TG |
