Kurupt,
Thanks for the PM's but I'm too cheap to subscribe.
I agree completely with your theory and that is what I was trying to get across in my post of yesterday.
It's my guess that this is some kind of sick hedge play that the shorts have on the Jr. Miners. PCFG isn't the only one going through this right now from what I see of some of the other Jr. AU PROUDUCING companies that I follow. Some of the companies are trying to PR their way out of the "Take Down" and others have gone silent.
From what I can see, the MM's try to short the miner into the ground while having access in some way to convertible shares that they acquired at a steep discount. The convertibles give the crooks the option to either apply the coup de grace with a sudden flood of cheap stock or cover their short positions if they can't run it down below a certain threshold price. I don't know why they won't just let it run and sell into rise.
There was a link that I posted a couple days (96602) ago that outlined the Complaint against a trader, that was approaching startup's that needed capital, for convertible shares and turning around and selling them on to the open market with none of that pesky paperwork or forms filed.
But I do agree that there are players here manipulating these miners and I'll bet it comes back and bites them in the butt just like NITE got it with LIBOR. If it is NITE, I hope it puts them under.
There are some pretty astute and intelligent people on this board that have been documenting these shenanigans. I'm starting to wonder if we shouldn't start sending certified letters to the MM's Compliance Officers and cc FINRA outlining what their traders are up to. At least it would remove any "Plausible Deniability" in court.
As always, the preceding is just My Opinion
SG
Money can't buy happiness, but it will certainly get you a better class of memories.
- Ronald Reagan
