New low. $.095 not a bad price. The stock is trading below cash on hand. The company is incurring a small loss. The impairment is book keeping & does not impact cash. When you are trading well below the cash on hand then the stock has already priced in Bankruptcy. This company has huge amount of cash on hand amounting to $131million with the market cap of $109 with no debt. It is not difficult to see that this company is not a candidate for Bankruptcy soon and a good risk to reward ratio when the selling panic is done.
Now who is selling. Biggest seller is Anonymous means some institutions & then Dundee. They guys may have redemptions or huge losses but it is not tax season they might even be taking the stock out of their books because it makes them looks bad of the losses they had on this stock. Can be capitulation.
If you had bought much much higher then you have a long wait & possible loss. If you are buying now at these price then risk & rewards is good.
I getting very interested at these & lower prices & will trade some shares for pennies . If this stock has half decent volume it can be a good trading stock. e. g at $.095 100k shares is $9500 not much capital for one block a spread of $.01 is $1000 profit for $05 it is $500. You can increase or decrease the quantity of shares & still make money while the stock get out of the big ditch. From $.095 to $.20 is double which is not outrageous target & can happen for non traders.
Market does strange things & if you hold cash then you can benefit from the opportunities the market will offer you from time to time. You have to be careful some bargains will even become better. There are too many bargains. If the selling pressure continues just nibble & flip till sellers have done their business.
Do not exhaust your cash & manage your exposure.
House Positions for C:ELR from 20130401 to 20130418 |
85 Scotia | 3,195,293 | 407,700 | 0.128 | 914,423 | 122,794 | 0.134 | 2,280,870 | -284,906 |
79 CIBC | 2,943,398 | 372,844 | 0.127 | 1,134,809 | 151,913 | 0.134 | 1,808,589 | -220,931 |
7 TD Sec | 4,634,660 | 598,090 | 0.129 | 3,313,927 | 425,281 | 0.128 | 1,320,733 | -172,809 |
2 RBC | 3,719,321 | 498,481 | 0.134 | 2,947,777 | 420,892 | 0.143 | 771,544 | -77,589 |
9 BMO Nesbitt | 1,115,738 | 142,674 | 0.128 | 475,415 | 66,327 | 0.14 | 640,323 | -76,347 |
19 Desjardins | 1,305,015 | 171,497 | 0.131 | 678,680 | 95,043 | 0.14 | 626,335 | -76,454 |
15 UBS | 535,500 | 73,507 | 0.137 | 85,000 | 11,550 | 0.136 | 450,500 | -61,957 |
78 Salman | 415,000 | 53,234 | 0.128 | 0 | | 415,000 | -53,234 |
81 HSBC | 419,800 | 52,326 | 0.125 | 47,000 | 6,800 | 0.145 | 372,800 | -45,526 |
65 Goldman | 602,500 | 75,335 | 0.125 | 321,000 | 44,944 | 0.14 | 281,500 | -30,391 |
58 Qtrade | 200,699 | 25,929 | 0.129 | 15,000 | 1,950 | 0.13 | 185,699 | -23,979 |
124 Questrade | 300,635 | 37,311 | 0.124 | 161,998 | 23,251 | 0.144 | 138,637 | -14,060 |
39 Merrill Lynch | 260,300 | 38,596 | 0.148 | 137,584 | 20,637 | 0.15 | 122,716 | -17,959 |
80 National Bank | 208,967 | 26,596 | 0.127 | 92,611 | 13,134 | 0.142 | 116,356 | -13,462 |
89 Raymond James | 770,000 | 113,100 | 0.147 | 690,500 | 96,202 | 0.139 | 79,500 | -16,898 |
88 Credential | 60,000 | 6,100 | 0.102 | 5,000 | 600 | 0.12 | 55,000 | -5,500 |
59 PI | 30,000 | 3,000 | 0.10 | 0 | | 30,000 | -3,000 |
14 ITG | 32,000 | 3,889 | 0.122 | 3,300 | 403 | 0.122 | 28,700 | -3,486 |
36 Latimer | 32,630 | 4,640 | 0.142 | 5,000 | 750 | 0.15 | 27,630 | -3,890 |
48 Laurentian | 15,000 | 2,250 | 0.15 | 0 | | 15,000 | -2,250 |
57 Interactive | 4,075 | 538 | 0.132 | 2,100 | 262 | 0.125 | 1,975 | -276 |
28 BBS | 1,500 | 195 | 0.13 | 0 | | 1,500 | -195 |
101 Newedge | 1,000 | 115 | 0.115 | 0 | | 1,000 | -115 |
46 Macquarie | 67 | 9 | 0.134 | 0 | | 67 | -9 |
90 Barclays | 0 | | 106 | 15 | 0.142 | -106 | 15 |
96 Blackwatch | 0 | | 337 | 48 | 0.142 | -337 | 48 |
62 Haywood | 0 | | 8,500 | 970 | 0.114 | -8,500 | 970 |
123 Citigroup | 63,448 | 7,929 | 0.125 | 72,500 | 10,512 | 0.145 | -9,052 | 2,583 |
222 JP Morgan | 0 | | 12,000 | 1,362 | 0.114 | -12,000 | 1,362 |
99 Jitney | 0 | | 19,500 | 2,372 | 0.122 | -19,500 | 2,372 |
121 Jennings | 0 | | 23,025 | 3,337 | 0.145 | -23,025 | 3,337 |
82 Stifel Nicholas | 50,000 | 7,470 | 0.149 | 90,000 | 13,500 | 0.15 | -40,000 | 6,030 |
53 Morgan Stanley | 137,811 | 17,035 | 0.124 | 235,245 | 33,053 | 0.141 | -97,434 | 16,018 |
13 Instinet | 322,528 | 44,264 | 0.137 | 422,043 | 55,716 | 0.132 | -99,515 | 11,452 |
33 Canaccord | 89,516 | 12,565 | 0.14 | 419,021 | 50,961 | 0.122 | -329,505 | 38,396 |
27 Dundee | 4,120,000 | 466,664 | 0.113 | 7,200,500 | 838,521 | 0.116 | -3,080,500 | 371,857 |
1 Anonymous | 1,606,000 | 212,596 | 0.132 | 7,658,500 | 963,379 | 0.126 | -6,052,500 | 750,783 |
TOTAL | 27,192,401 | 3,476,479 | 0.128 | 27,192,401 | 3,476,479 | 0.128 | 0 | 0 |