RE: RE: RE: Possible support at $1.40?Do not despair boys, this play is unfolding almost like it should. That downslide has been a little sharper than hoped for and the rebound not so quick to show up but these are normal movements. There were players in for the pfr and they are now exiting as that play is over. Now the value guys have to step back in for Act 3 and support here at this level.
For evidence look at any of the recent takeovers and the last 6 months of their lives to see that selloffs, lack of confidence are very much a part of these markets. ANM is another good example. Take a look at the last 6 months of their trading. Also look at anm's recent trading. To me they are some months ahead of mdr in their end game. They have what appears to be an economic deposit, have spoke openly about selling that asset and you can see the big players have stepped in positioning themselves for the eventual take out. Sure, lots of unknowns and risks (gold,copper prices, economics, politics etc), but you can see where the bets are being placed.
We are no different, maybe less liquid (although that is subtely changing), but nevertheless things are unfolding despite the retracements. I have lots of confidence the deal will get done in the long run, but maybe the disappointment will come on the eventual takeout price. That might explain why we are sitting where we are sitting.
So sit back relax, support the bid and wait for the final curtain call to come. Not much else to do, other than to make a trade or two, really.