No Longer Swimming Against the CurrentIt's pretty tough for a stock to go up when there is an insider ready to whack it whenever a bid develops. Canaccord has sold a net 21 million shares since Jan 1, in large blocks almost certainly representing Gold Reserve's announced dispositions.
I would like to think that the current rally is a psychologial one rather than one prompted by immminent news. After all, there can be no news forthoming on the exploration front, leaving corporate deal-making on a financing or jv the likely explanation.
Technicians would say that buyers are now in control--witness today's strength in the face of a serious setback in the price of gold. What to do ? Sit tight and let the market find a higher equilibrium.
Then we may get the news boost.