GREY:CLLZF - Post by User
Comment by
rehsifylfon Dec 09, 2011 4:21pm
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Post# 19308748
RE: close @ .93?
RE: close @ .93?Funny - a good hold for the week-end. You sure you want to go that long on a stock?
For those that are long the stock and are letting the level 2 asks bother you. Ask youself this. Why would someone put a bid of 400K shares on the ask at .94 and leave it there instead of just selling at .93? Answer - he doesn't want to sell. He wants you to sell. And you did, or almost did. The big asks were there to get you to sell. The same guys were gobbling them up. The Bids never showed more than a 150K, most of the time less than 50K - and yet millions went through at the bid.
Spend the week-end reminding yourself that they have one offer, they will probably get a few more, and they are still looking for a way to stay in the game with a JV. IMO the only thing keeping this below a buck is the knowledge that mgmt, large holders, and the banks don't want to sell. But - they can't turn down a good offer unless they can demonstrate a better alternative. While you may want a quick double on your small holdings, the guys that hold 30M shares are thinking longer term and they'd prefer to see it go up 300% in 2-3 years than 200% now.
The big holders have already said they don't want to sell. So the price is only going to go up - or we do a JV deal - or we wait for another few months and do it again.