Post by
Rainham on Oct 30, 2013 12:22pm
Up Again ???
CGQe Up $.07 to $4.90 to this morning.
My thoughts are that the financials are up about 4% from the 15th of Oct. so the NAV should be around $3.93 plus 4% = $4.09
CIBC world markets have been a major player in this stock. They were both buyer and seller of 1000 shares on the first two trades today. Could be trying to set tone for trading.
The apparent dividend of 21% could be enticing some who do not know the situation of this stock,
there is little mention of disolution since the July vote. Most trades are less then 1000 ,so probably smaller retail players. Think I am right, hope not to many get hurt. If I were a short seller I would.
GLTA Rainham
Comment by
navgod on Oct 30, 2013 1:49pm
Adjust for the .09 dividend and you are basically at $4.00. I have tried but unable to short this issue. Difficult to short CEFs at the best of times. If anyone reading this holds CGQe would love to hear the logic why. Also if an advisor put someone in this and isn't telling them to get out they should be sued.
Comment by
navgod on Oct 30, 2013 2:38pm
MY guess for this illogic bid is a short who had the stock he was borrowing called back and forced to cover