RE: RE: Who is selling at .56??? The price of oil and the Cdn. dollar have been drifting lower - both favourable to LSG profits. Meanwhile the price of gold turned higher today and the producers surged 4% - yet we didn't go anywhere.
I did not notice the fine details of the trading, but did observe during the heavy buying of the last half hour, that every time the ask was about to be taken out, someone dumped in another 20,000 - 40,000 shares to keep the price capped at $0.57. If the investor only wanted to exit their position, they could have let the price rise a couple cents to better their returns.
Clearly, this player did not want our stock to break out with the other gold producers today. I would reason that they want the negativity to continue until a final capitulation in gold and gold stocks - which is common in a severely stressed sector - upon which they would then cover their increasing short position.
They were likely worried by the surprise rise in the gold stocks coupled with the evidence of LSG's prospects finally turning around - as pointed out in 4u's post. Hopefully, we can hold the base here and start the beginnings of what will be a very long uptrend. Bought another 10,000 today and will sell other investments to buy more should a final capitulation occur.
Greg