RE: RE: RE: Altacorp Dumping all dayIf you've been watching the headlines, there is unrest in Egypt. Egypt is fairly close to Iraq on the map. Interestingly, there's two sides to the coin here.
1) The reaction to the unrest is rising oil prices. This would be seen as a blessing for Sonoro. Alot of people are getting back into gold and oil stocks, and Sonoro is probably the highest-rated spec pick in my book, with opportunity for very large rewards over the time to come.
2) When people see headlines about the "Middleeast" - they immediately assume Iraq, not Egypt. Perhaps a stereotype, but I'm sure cautionary reactions kicked in for many and triggered them to sold.
Then there's the people like Macquerie who are in the middle of everything, dumping the stock they have above .25. They are in the business to sell and distribute stock, not hold it, so only makes sense.
Nice volume today in any case despite the drop. Let's hope for some news over the next week as to how the money will be spent. Sonoro isn't stopping for anyone, they have a plan and it will take effect.
-Millionvester