RE:RE:Shocking Trading PatternsCopper
You mention cash flow start next week and it was something that I was wondering. Does anybody know for sure that's the case ?
Since they have to drill 5 wells to earn their 70% interest, do they have to wait until the fifth well is done before starting to earn money or they start right away ?
That may be a question to ask at the meeting for those who can attend.
copperplay wrote: FabiusCunctator wrote: I am a little shocked by the trading patters in this stock. From 1 cent to 36 sents and then back to 12 cents. If this was an OTC stock I would say its the usual Pump and Dump but SNV has a genuine business and an impressive board. I suspect that this is a single seller unloading a large position and recall there were a couple of executives that left the company in the last few years and would have held large stock positions. Combine that aggressive selling with the usual shorts that will follow the volatility and smaller shareholders desperate to lock in their modest profits and you got all the reasons necessary to explain this move.
Given the anticipated news - this could be an unhappy time for shorts.
Trading for the rest of the week will be fascinating. The market right now is saying it is easy to get stock in the low teens so the strategy would be to buy upwards slowly from 12 cents and sweep up any liquidity and there is some volume out there ahead of a push upwards into the 20's ahead of news in the coming week.
Cannot imagine that there will be any news before the upcoming AGM. If you attend this there are many questions to be asked.
Cunctator.
it is very simple sell at 13-20 cents and buy warrants at 7 or 5 cents. These are the non insiders so should be over very soon and all indications are drilling and cash flow starts next week
Also should be noted that before a stock goes on a run it gets very volatile prior and this is exactly where we are. 36 cents was no fluke