I think PCQ MIGHT exceed our expectations tomorrowThose investors who accumulated PCQ while other are plays were running up generally agreed that a major reason for PCQ lagging behind other Quebec shale plays is their delay in releasing the financial statements and threat of PCQ being halted because of that.
The expectation for the release of financials was the end of June, thus PCQ retreated due to the manipulation by one or more big players under Anonymous.
Last night's NR was a complete surprise and caught Anonymous off guard. There was an attempt to stop PCQ from exploding early in the trading, which presented a prime buying opportunity, but Anonymous ran out of shares he was willing to sell, then the stock took off to high 40's.
After minor slowdown in midday trading, market finally caught up with the importance of the NR, and PCQ ran up to the 60s. Rumour of imminence of other news releases helped propel PCQ to the highest volume on Venture.
Bids were coming in very heavy at the close, which formed a perfect signal for the technical types.
However, stocks usually gap up on UNEXPECTED news, and this NR was completely out of the left field. We are waiting for the drill results or more resource estimates from Talisman, but a major land acquisition in the area? Come on, no one has expected that. And there are still more news to come.
What that all means is that PCQ is now right up there with the major players QEC and JNX, and it is not too hard for the market to see that now. As for the share price? Take the best guess, this might be one of those rare 300% a day gains.