1King thanks... No attitude... Just ticked off at the way they put out such a loosee goosee NR so as to keep everyone, including yourself and others that are knowledgeble about the area, guessing... But then again, what was the company to do, considering the fact that the '98 drill program was only 3.5 days old and the rumours where already screaming through cell/cyber space...
I'll bet dollars to donuts, that core barely came outta the ground and some broker knew what the 'ell was going on, or did he/she???...
Lets have a brief recap here...
Monday: Trading range: 2.65-2.74 volume 62K... A nothing day...
DML started to drop Tuesday:
Trading range: 2.47 to 2.78 closed at 2.57. Volume... 360K, could have been a profit taking shorting opportunity...
How deep could those drills have been and what kind of BS rumour could have started that early????....
Usually and I repeat usually, when a company starts to actually plant a drill in the ground a stock will react positively on the news and the anticipation of some sort of drilling results...The SVB is a hot play... The fact that that the company announced the start of their drill program and the stock reacted in a sideways motion since May 1 and then head downhill 7 trading days later, one would tend to think that there was a huge undeclared short position created...
Wednesday: the tank continues:
Trading range: 2.33 to 2.56, closed at 2.56, volume light at 214K
Thursday: trading range: 2.06 to 2.30 and the stock gets halted pending a news release...
Based on the time frames for last years results/analysis there is no way they could have had them that early...
Thursday evening: We get a nothing NR... What the hell could anybody expect from them that fast...
Friday/Tuesday: We get a combination of: Herd effect panic selling, capital preservation & short covering...
Those that don't have chit for brains and realizing that the '98 saga is just beginning, are taking advantage of the averaging down opportunity or are re-entering the play having taken profits at higher ranges...
Those that claim they never heard of the SVB may have gotten an opportunity to get in dirt cheap on various area plays...(Now, that one I have a hard time believing)...
Wednesday: Voila!!!! A new rumour and the race is on again...
Damn!!!!! I love this game...:-))))
...ed
...and the saga continues... |
