RE: Thyssen Bailing Out"If Mitsui & Pinetree are not selling, that makes our float around 40 million. Why is the SP not double is what i can't figure out. Someone is still selling?"
If I recall correctly, there were days when we had volume over 2 million and the SP only rose in the 6% range. Now we have volume of only 800,000 and they bring it down 6%. I would guess that there are those that fear the overall world economies as is being promoted on CNBC. Some may think that the price for coal is going to retreat further. Many do not care about the near term, mid term, long term. They only care about thier fears today. So the MM may be finding it more difficult to find buyers. I have been in stocks before that were a no-brainer...and yet there were sellers. Unless the sellers got back in they had to be sick looking back and knowing what they had...and what they lost. Hell, I've seen institutional investors blow it. It happens.
Thing I don't get is that fact that the announcement of the purchase being finalized can happen any day now. Just a matter of signing the paperwork with Mitsui (probably already done) and now signing the final purchase contract (along with the check). If these things are going thru the mails and sitting on attorneys desks waiting thier turn I can understand it taking a couple weeks or so...but if they are being Fedx'd it could be tomorrow. Anyone selling will miss being in for the news.
Could be that many sellers are just waiting for CMK to bottom and they will come pouring back in. I would bet that Pinetree knows a buying opportunity when they see one....and I'll bet Mitsui cares not about the price swings.
Badog