GREY:BIXZF - Post by User
Comment by
newcomer21on May 06, 2010 12:24pm
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Post# 17069855
Second wave of the crisis
Second wave of the crisisThe TSX is almost neutral today and there is a nice rebalancing occuring - a flight to safety with big beneficiaries being companies that announce dividends (WILAN) or produce dividends on a regular basis and have a solid track record of results. Speculative stocks like BXI became darlings in early 2010 when it appeared the worst was behind us but were badly overbought. Management took full advantage by providing NR's whose sole purpose was to drive up the SP so the Private Placement could be sold at 1.85. Another push to 2.12 was orchestrated to help the PP investors cash out for a quick return and then the "death spiral", back to reality, back to "results" and the normal course of business.
Sickening to see how well this one was played by the smart guys out east and equally sickening to see the "long and strong" crowd hanging on by their finger tips - hopin and prayin - but unwilling to see the new reality.