price held at .51
I think way too much is being read into the day to day swings of prices. As nice as it is that wpx has risen out of the 40s, it only reflects a general light optimism in the market about potash, with the recognition of how essential this nutrient is and the likelihood that a large player will scoop up some of these “shovel ready” projects.
Whether you think this will happen (like me) or think it is absurd to think so, makes no difference in the day to day swings of wpx stock price. This stock will not take off until financing is revealed. It is heartening that management has increased their share from 7% in Jan to about 11% now. (according to the numbers on insider news posted by thrait) They are the first ones who should show some hope. And I placed my bet because I think wpx is grossly undervalued and will probably rise dramatically within a very short time frame. My kind of investment. I’ve already posted why I think that will happen, no need to be repetitive.
But I think far too much is being read into the moody swings of the daily market. Anonymous could be one or many, nobody is supporting the price with magic manipulations; what we are seeing are the nervous fingers of investors who don’t want to miss out if it does take off, and don’t want to loose their shirts if it sinks back into a pit. Show some real evidence and they will pile on.
I think that will happen before the desperate measures Bob refers to. Am I right? Are the nay-sayers right? Projects of this scale do get built, China and India do need what these juniors are proposing. Time will tell; sit back, relax a little and watch the story unfold.