OTCPK:WSRLF - Post by User
Post by
miner49er62on Oct 31, 2009 2:07am
499 Views
Post# 16441150
what selloff?
what selloff?I keep reading posts about all the volume that has been sold here and the selloff that is happening.
I am not a market expert per-se but I can read. The shares outstanding on this company are 170 plus million. The average daily volume is 1,300,000 plus shares. Of that some is buying and some is selling. This month we have all seen a decline in the price but it is a decline on LOW volume. Only about 3 days this month exceeded the daily average volume and that was at the start of october. The last three weeks have seen days of less than half the average to maybe 75%. The total approximate "selling" only volume is about 9 million shares. This is of course subject to some error because you cannot always tell what was a buy, a quick flip or an outright, "I am outta here" sell.
The point is, I dont think anyone knows anything. There is certainly no huge selloff happening and the numbers show that clearly. Anyone can access that data. With 170,000,000 shares out, if it was a sellof you would see 10 to 15 million share days. Traders are having a field day though.
I still believe that there is no truth in rumour. The company knows what they are doing and they will give us information as soon as it is available.
Oh, yeah one more thing. I posted just prior to this that this month end was very nasty. The markets were also down big today and so were we, what do we expect? No news, down market we will decline as well.
As I said in my prior post, WZR has said by email to me that when they finish the tertiary, and if required they will log and test the zone there, they then will issue an update. This is a big change from their prior statements of no test till td and I think that may be significant to what they are seeing in this current zone.
Miner