RE:US trading todayWas a fantastic day I think waitingstill. The spike from last Friday held nicely and CGXEF even got a late afternoon spike. As long as no new news occurs, I think CGX should easily surpass $3 this week and might even make a run for $4 CAD.
Longer term (as in like next couple weeks haha), the share price likely will keep rising leading up the final news release of Kawa-1 and it truly will be a game of musical chairs (as put by Oil_Run). Eventually it will either skyrocket (likely > $10 CAD short-term) or plummet hard (likely below $1 CAD) on the morning of the news release.
I know many ppl like to think the port means something, but right now its truly Kawa-1 or bust for the share price... a market cap closing in on $1 Bililion CAD does not occur without massive hope for a big oil discovery.
I suppose the real questions (prior to the big news release) will be when do people start selling and locking in their gains? Fear of missing out (FOMO) is a powerful drug and I do think many will not sell... give big or go home will be the mindset and again many will not want to miss any spike in share price (in addition to having been attached to CGX for many years, if not decades). Then again, locking in massive gains is also something not to joked around with and for many a share price of $3-5 would mean life changing money (given the long-term nature of how long folks have been accumulating CGX shares). Yes, I do appreciate what a share price of +$10 would mean, but a plummet to $1 would also suck as well.
Certainly at this point, investor psychology means as much as any fundamentals if not more (at least to me). I personally do not know the right answer at this point to some of the questions I have raised. I just know they have been rolling around in my mind and I know some of them likely exist in your minds as well.
Cheers.