RE: Pending Beluga 3 ResultsRocket, I don’t understand what you mean by head fake and stink bid, going to zero???
Here’s my take on this kind of price action – it happens time and time again for these stocks on the eve of pending results. Either it’s nervous or impatient traders dumping, or traders exiting their positions because they like to day-trade in vacuums and avoid news periods because their precious trading ranges become distorted.
Unfortunately for us longs, DDN’s prospects have come to hinge solely on the beluga results. They obviously didn’t find the gold, unlike UNR which did and in a big way. Ditto for the nickel.
If they deliver on beluga, and my gut tells me they will, we’ll be north of $1 by the new year. If they don’t, god help us, because beluga is the last rabbit Mark has to pull out of his hat.