Peregrine Diamonds Ltd. PGDIF

Great morning to all longs

[mrrbc]

.37 and volume pushing 400 K. All before 10:30! I have resisted the temptation to trade in/out of PGD. Done that before and gotten burned a few times. I have a core position at .19 and am adding on any dips into the .20's. I believe strongly in the fundamentals of the company and the story is a compelling one.

[Fivecarat]

Is this the last chance to trade this before a long quite summer? Will she go dormant after the Botswana deal is announced, and is this the spec that is driving this right now?  Traders need to ask these questions.

[mrrbc]

I think the spec is Chidliak, drilling related. Botswana IMO is a distraction. I don't think the closing on May 15th will register. I don't think the summer will be quiet....perhaps spinco news, JV news, early drill results. 

[Fivecarat]

You may be correct on any or all of those items coming true.  You must admit that if you timed it right, this stock has become a traders dream in the last month or so.  What I'm wondering out load, is that is that opportunity closing after May 15, into what could be a relatively quite time into and after the summer, that's what a trader has to weigh and decide on, IMO.

[mrrbc]

It's a diamond stock, it has a high beta. Volatility is a certainty. Traders can trade. I've been whip-sawed before and for the most part avoid too much jumping in and out. I'll sell to cover my initial investment and ride for free thereafter.

[Fivecarat]

Again, can't argue with that.  Diamond stocks not for everyone, especially not for low risk investors. I know some people hate it when I refer to it as gambling, but those that don't take that word too literal, know what I mean.  It can be a great payday or well, we know the other side, it can eat ya up and spit you out, but it's not boring, for the most part, and I think

[ekim]

Not a coincidence that the closing of the Botswana deal is exatly the same time quarterly earnings will be released. Both need a lawyer's rubber stamp on it...so why not do them together. The botswana deal might sneak into the quarterlies before an independent news release is made. More importantly is what the treasury is to date in the Quarterlies. $4, 6, $8, $10 million? LONG...PGD