The thing that blows me away aboutshort sellers like Rumncokez is that they are not even intelligent short sellers, which would imply they are quite broke and offside which explains why they act the way they do - highly irrational.
I mean who on earth would try to short a stock that has just broken through after a triple top when more than the entire float has traded over the past 4 months. Sure you want to short something like Intertainment (V.INT) when it had its big run, but one would not understand even basic technicals if one were to pick GWY as a short candidate.
Rumncokz states that the stock keeps retreating to .80, but the corollary to that is that it finally broker through, and the new support will now be $1.50. Secondly and most importantly, both rereats off the $1.50 level down to
.80 were in no way attributed to GWY itself but rather to market turmoil/greek crisis which only allowed the mm's and accumuluators to fleece more paper from Joe shareholder who was just so nervous. (Even I reduced my poistion a tad back at $1.20 during the Sept massacre as I had a farily robust position and becasue I was scared sh!tless) As I alluded to on my last post before the brutal Sept selloff - I have never seen a stock so cleaned out so professionaly by the mm's. Back in Aug when the stock ran up to the $1.40 - $1.50 range, the volume was monstrous and all that $1.50 stock was cleaned up - little wonder that once we were back to these $1.50 levels and there was some new buying, that the stock finally broke out.
In retrospect, in light of what's happening with CBJ is probably the main reason we broke out. Ross Beaty is very savvy and intelligent - he made money in the past with Ventana so his attention to CBJ is obviously being being noted by the markets, and attention to CBJ is only going to filter into attention to GWY.
Its funny in that I always say stocks don't go up on news but they go up on buying. So many cheerleaders on these bb's are always dreamin about the next nr, but the reality of it all is that stocks usually go down on news. Even if the news is company making and spectacular, I find that we as investors have at least a few weeks before the news starts to sink in and the big institutional money starts to roll in - these big institutional players rarely react to news and if they do, they try to participate in pp's rather than go into the markets. And you can bet that if they go into the markets, they are very savvy and they know how to shake out paper and not show their intentions.
As pointed out by the ever clever Schiffknowsbest, with GWY's very strong cash position, anyone institutional entity that approaches GWY for paper will be turned away and will have to go into the market. The market is also the obvious vehicle for any potential suitor since they wont participate in pp's since their name on a sub form would obvioulsy tip off the market. LOL
One thing I would like to see GWY do, and this makes me wonder about when folks like Tom Chalandra apparently say that GWY has been up for sale for some time (I would really like to see something concrete on this)...
GWY should make a pure play with the California and Vetas assets, and spin off their Victorio Moly/Tungsten and thier coal holdings plus some cash into a newco managed by the same group. They could then distribute/dividend shares in this newco to existing GWY shareholders. This would release a bit of value for these non core asstes and most importanly, it would groom GWY for a takeover. They would probably easily be able to rasie money for his newco since all of us GWY shareholders would ante up - especially if they manage to sell these juicy Colombian gold assets. (If someone like Batista only wanted California and the fractional land on his Ventana tenements, GWY management could take thingks evern further and possibly spin thier gold holdings into two companies, California Newco and Vetas Newco)
I should not spout about other deals on this board, and most who have seen me post know that I am not a pumper, but a deal I like probably even more than GWY is Donnybrook Energy, V.DEI. They should be snuffed out (BY either Cequence, Celtic, Shell or Encana) between now and next summer for at least $2.00 per share, and they have already gone ahead and announced that they are rolling thier non core/non Montney assets into a newco to be called Donnycreek. This way they have groomed thier 3 key Montney positions into a pure play for the take-out. I am making this point as this is exaclty what GWY should be doing with those other assets. Furthernore, should any new and interesting deals come across this managemnts group's desks, they can roll these new deals into the newco as well thus keeping the California/Vetas assets pure .....
Anyhow, I do wonder if management has alluded to any of this?
The above said, Its imperative that they drill like crazy now as this will only increase the resource and this hopefully insures that they dont leave too much blue-sky on the table for any would be suitor.
Good luck to all longs, and ever more good luck to Rumncokez, he will need it more than we do...
Jandd
This way they would better groom the asset for a takeover.
paper wi