RE: schottchris
Very schotty decision in my opinion. Look to 30-40 dollar range in under a year......quote me on it.
----------Original Message Posted 8/5/2008 2:45:31 PM----------
My strategy remains the same. I am currently still 1000 shares short. I am looking for an opportunity to short another 1000 after the final holes are released.
I anticipate that the stock price will be around $6 bucks immediately after the next holes are released, but there will be massive, massive sales that day. Even moreso than today.
The next holes aren;t going to tel us anyting new, its an east hole and a redrill of one of the "discovery" holes if I reckon correctly . The east hole might have a bit of upside for the stock, but not too much....more downside if you ask me.
TOday's trading is funny.......small bids buying, massive lots selling. In other words, dupes are buying and those running the game are selling. This will continue for the next couple weeks as they have millions of shares to distribute to the public. If these are awsome results why is the stock treading water....
I will say it again. There is no way this deposit is mineable at an economic rate of return over a market cycle. There is no way this stock is worth money. Thermal coal in this locatoin is not worth mining if it is under 80 feet of clay. Thermal location under 20 feet of overburden is not worth mining in Southern Saskatchewan. Coal on eh surface, (in the case of Compliance Coal) is not worth mining.....so why is GXS worth $125M?
I will cover my shorts inside of a year at $.38. Quote me on it.
After these next drill holes are released, interest will wane, as is always hte case with pump and dump stocks....which this is. There is nothing to drive the stock. No major, minor, miner or mother is going to buy out an undefined, undulating thermal coal play in a remote part of a country that essentially has a moritorium on thermal coal.
Schotty