RE: Is it real?I’ve been holding SGF stock since last fall, and asking myself why?? Well, I guess it’s because I believe in the project, but I also have to agree with your concerns regarding SP manipulation. Since October / ‘08 SGF stock has seen two similar short-term high volume and SP spikes.
Between Sept. 22nd and Oct. 01st the SP, accompanied by large trading volumes, moved from .72 to 1.30, before starting a long, excruciating slide into the .20 - .30 range, where it has stayed. Of course that slide could have been blamed on the general market slump in the latter part of October.
The second spike was between Dec. 29th and Jan. 05th / 09 when the SP moved from .29 to .57, before dropping back to the low to mid .30 range, with a large trading volumes continuing thru to mid Jan. From there the SP just kept gradually sliding until it got into the .25 to.30 range where it has stayed. What is notable is the mess the markets have been in and SGF’s decision to cut back their 2009 budget, which I feel was a prudent decision. For the SP to remain relatively stable during that time, even if it was only in the mid to high .20 range, has to say something for it’s potential.
I agree with your assessment that this latest spike has been engineered. TD’s “upgrade” announcement and their corresponding trading appears to be designed to drive up the price, which will be followed by a sell-off to grab profits. I hope I’m wrong, but I think the SP will slide back to the low .30 range over the next few trading days. Other than TD’s “upgrade” to “speculative buy” there haven’t been any other NRs or other developments that would influence this current SP spike. Based on info I’ve received from people on the ground in the PA and Saskatoon area, who have a the same interests we do in seeing SGF staying healthy, there haven’t been any rumors circulating and basically nothing is happening at the mine site, which was expected. The only other possible reason for this latest spike is due to some unforeseen change in SGF’s fortunes, and only the upper level insiders are aware of it and are trying to increase their holdings before the news hits the streets. Personally I don’t think this is the case, but who knows?? That’s why non insiders, us, can only make educated guesses as to what is going to happen next.
Your thoughts??
NN