RE: RE: RE: RE: RE: Darcy 4% drop?
It was almost 8% at one point.
The news was in line with my expectations. Nothing new to me. The news about the 4000k/d not online yet was to be expected as there was not a NR on it up until today. But what's the big deal? Its online very soon. Management expects the state officials to be onsite within the week to inspect and finalize production approval. Then they start to produce the oil.
If people can't wait a few days then they shouldn't invest in anything to begin with. Keep their $ in the bank.
But when I saw the trading today it was all 100-500 share trades that sunk it in Toronto. That's $80-400 trades. Like I said on Friday that is the tell tale sign that a few traders/houses got together to sink it.
Everytime I've seen that type of intraday trade technique on small caps the SP of any company falls hard. A friend of mine that use to work on Bay Street years ago implemented that same strategy to drive down certain companies. Someone can buy it up and spend 10s of thousands to do so, but drop in a few $80 trades, especially at the end of the day, and the final chart shows that the "market" thought it should sell it on that day.
When in reality the majority of the shares thought otherwise. But the damage to the stock chart is done and pushes away any buying from technical traders and algorithmic computer trading based on technicals. By removing those avenues of money coming into a name they are more able to play with it due to less $ being against them.
Usually TPL only has 5-10 trades on a regular day. So you're talking about 2,000-25,000 shares per trade under a normal day of trading. Friday and today was all 100-500 share trades over and over again. That's not retail for the most part, its institutional. When shares rise its usually on large blocks, when it falls it's on a ton of very small trades for small caps.
Is this the low. Who knows? Share prices are manipulated all the time on small caps and most retail guys couldn't calculate what anything is worth in the first place. They rely on investment advice from others or analyst reports to do their homework for them. When a lot of people dont know the volume of what they own and it starts to slide for no reason they get emotional and do stupid things.