Question on the trades
Sinister games of severstal. I like that.
If memory serves me correct I was watching alot of interesting trading through two houses, one being CIBC when severstal first began shorting and controling the price.
I Was just having a peek at the last 30 days and CIBC still running the volume and keeping well balanced with no strong accumulation/liquidation.
| 79 CIBC |
6,015,517 |
7,598,067 |
1.263 |
6,500,635 |
8,155,317 |
1.255 |
-485,118 |
557,250 |
I have not been following the trades but was wondering if they are still dictating the price?
Also, I don't disagree with valuation on cash flow and EPS but there is a substantial discount needed for:
1. General distrust in Management
2. Russian Assets/Russian MGT
3, Mine depletion at Buryatzoloto
I'm in no rush to jumo in as I don't see anything happening near term and the charts don't look so good. Personally I think a dollar will be tested and it could slide from there. If it stabilizes at current price I'll jump in or I'm going to wait for the leaves to be shaken.
Any comments on CIBC?