Get ready for the final attackThis is probably going to set off a big slide. Pull your stops or get caught. Be prepared to buy. Collectively we can counter this. I expect there is an offer of some sort coming and perhaps some informal talks started last week. This attack can only be based off Teck leaks (deliberate). The market conditions and insiders blacked out made for a perfect storm. The fact that they are not willing or able to buy suggests the attack is not over. So far we are exactly on schedule for 79 cents. Hard to believe but that's where we are headed. One more big wave will set off a collapse. We can sell and buy back BUT, with the potential of an offer or major NR there's a big risk of getting caught out. I have not sold my trading account because of that.
What I find odd is that the company is saying nothing. We the share holder have been in a news/info black out too. I had suggested a circular to inform us of the company's opinion but Elmer gave us a very positive Quarterly instead. The problem with that is not enough people parse those.
I've said this before. The buyout is entirely controlled by insiders so sp doesn't matter accept where they want people to follow them to the next one. I'm happier when the company isn't responding to the daily sp grind but in this case I think they should. It p i sses me off that company time has to get wasted on stuff like this. Another real annoyance is that Ernesto and David have to rescue the sp. If I had deeper pockets I'd be buying like crazy.
I've heard rumors of what's coming so I just want to pick up $16k more as cheap as I can get them. I was going to pay bills and stuff but this is too crazy to pass up. I'm concerned that Monday will come and we will hit 79 cents and I will have paid more than I could have. (Our insiders could be blacked out Monday too.)
The 1pm false rally was just that. The Friday Fear Down started a bit early and I think they just wanted to test the waters before they hit us hard. They question I have to ask myself is "Do you feel lucky, punk, well do you". At 3pm I'll have my answer. If the shift is neutral (a calm spot) then I wait. I have no plans to get caught in a rip. This might involve watching it right to just before the close. If a hard slide comes then the bottom is Monday. By that time the insiders will start to get real agitated. This is reputation destroying territory. Guys who spent their entire lives in mining will have their reputations ruined over night and it will be a long road to recovery. Not a pretty picture for them. That's one of the problems with being insider controlled. The responsibility for the sp is entirely on them.
My advice today is tread cautiously. Don't be fooled by an upswing. Wait for it to set in solid and forego a few cents profit for the sake of safety. If it goes the other way then wait for Monday and watch the pre-trade.
I'm going to skip work today and give this some serious thought. I'll post later.