RE: House Positions ...includes alpha etc Coach on thanks for the L2 update. I have a few general thoughts regarding the L2:
1. For a penny stock, until the volume is over 1M for three days in a row, it is dangerous to read any pattern into it.
2. The market had two good days (since nyse reopened) and then pulled back a bit for a breather Friday. Woulfe made most of its upward run with the run of the whole market, although that wasn't the case Friday. Still, it is premature to say the 3 day Woulfe rise was more due to Woulfe fundamentals than to the overall market rise. Time will tell on that score.
3. Dundee really is making a run at getting as many shares as possible. That is a good sign for Woulfe shareholders. While I accept they do not have any insider information, they do have the resources to do much better dd than most of us. If you had $11m invested, you would likely have feet on the ground at the mine site doing dd.
4. People looking at the L2 should pay as much attention to who is selling as they do to who is buying. Yesterday most of the selling was from the anonymous house, which makes it more difficult to track, but it is noteworthy there aren't lots of sellers or buyers. L2 would be a more reliable indicator if looked at from month to month as opposed to day to day. We are looking for patterns and not just one day expressions. Still we need to look daily as well because with penny stock, the pattern can emerge quickly at times.
5. Finally, I would add that we are looking for any pattern that might suggest some insider knowledge of if/when the $35M from IMC is coming, because we all think that news will instantly change the L2 pattern given the significant de-risking of Woulfe. Even when the officers are trying their best to keep it confidential, that becomes an increasingly difficult task each day the transfer date is closer. Operational quotes and purchase estimates are given and over time people put two and two together, especially if your dd resources have feet on the ground in Korea. One should not be surprised to see the s/p moving up significantly just based on the speculation of that news. That can happen with no insider leak. In short, we watch this three day, seven cent s/p increase with great interest, in hopes that the good IMC news is just around the corner.