The end is nighI am very nervous these days. Lorne, the guru of stock manipulation (sorry DC) has gone long around 1.20, having called the bottom with Econiche riches imminent (or this year anyway). Art (alter ego or not) has fed at these levels, but seems to have some money left so he's calling for sub $1 (well he's calling for .90 bit he'll buy above that...duh)
Core holders are scared and questioning (even the ones in the know) playing right into the hands of brokers accumulating / algorythmic HALS, take your pick. Even our stalwart manipulators may have missed the bottom, by 7 cents so far. Scary, what if they exit with a ....gasp...loss?
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Does anyone seriously think that government would lend $20 million to a plant and watch it turn into an abbatoir? Mr. Kramp is in for a fight with a cabinet calibre Liberal nominee ( I hope Peter wins, he's the better candidate,and after all we have Lyle on board). There will be a ribbon cutting (plant ready or not) before the election. I will stake my ever increasing (rarely decreasing) position on that.
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But some people are feeling pain ,having bought all the way down from 1.80 range, or while watching their net worth. My own bank manager bought near the peak. Mind you, seeing she's a she, she probably exited with a 10 to 15% loss.
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Bioniche is the perfect example of the new economy Ontario wants to see (and Montreal) and showcase politically. That's all I need to know even if the details seem slam dunk. More orders ahead of Art are in.
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Sleep well. The end of McRae valuation is nigh.