Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:Added at .205

[mill44]

We are under a major resistance. There are a few million warrants that people are hoping to get rid of, even if they don't want to sell shares. PGD is not out of the woods yet and anyone who thinks that a month old news is  what it takes to move the stock is just kidding themselves. Once the warrants are out of the way it might be easier, but for now any advance will be met with serious selling. The limited life the warrants have left will force a lot of people to start selling them.
Think about it. People are sitting on a bunch of nothing here. Once the price moves above 21c, that bunch of nothing turns into something. We get to 25c, those 100.000 warrants worth a big fat zero turn into 8000$. How many people will watch them go back to zero again before they start dumping them?
That 21c is a big f#ing magnet. Under it, people holding warrants will buy shares, pulling the price up. Over it, people who want to pull some money off the table will start selling, pushing the price down.
We had this discussion when the financing was announced. People laughed at me and made calculations based on market cap, money in the bank and so on. What they forget is that all that is about PGD, it's not about me and you. For us, the only thing that matters is SP. I buy and sell based on that. PGD having an extra 15 mill in the bank has no effect on me, unless is a cash donation instead of extra shares that will be in the money way before mine will. That just adds to the risk.