GREY:SWYDF - Post by User
Comment by
drdiabloon Jan 28, 2010 2:02pm
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Post# 16729129
RE: Why the sell off
RE: Why the sell offSWY has been primed for a sell-off. Lots of investors, including me, have been sitting on whopper profits after buying in the .10-.20 range and watching the stock quintuple. After hitting a high of .73, SWY sprung a slow leak and fell back to the .50s, causing investors to start glancing at the exits. I'm sure the catalyst for today's drop was the Peregrine sell-off. PGD has lost 27% today after reporting disappointing drill results. Folks are worried that their gains will go up in smoke the way PGD investors' did and are panicky. It doesn't help that the broader markets, and especially the resource sectors, have been sliding.
I had considered selling SWY when it hit .60. At this point, I'm going to hang on. The PGD results simply highlight how much closer to production SWY is, so I think it will ultimately benefit from the PGD sell-off. If we break half a buck, I may have to add to my position.