Recent Selling Pressure
I believe the recent selling pressure is caused by the expiry of the 7.35% Convertible Debenture that are convertible at $12.75 if converted by December 31, 2010... A nice tidy profit of $9.00 (or 71% appreciation) for the debenture holders at these current prices.... once the selling is over, I expect the climb to resume... The latest debenture is convertible at $28.75.... so if history repeats itself... it should be great for all of us.... i.e. if the 71% appreciation repeats itself, these debenture holders should be able to sell their shares at over $49.00!! Wow...