Saturday, November 30, 2013 11:15:54 AM
The "wash rule" selling pressure seems to be behind us now for those who wished to sell before Nov 30, would appear to have done so, at least those of "size."
The rumor of someone having a position in excess of 1,000,000 long shares to liquidate for whatever reason turned out to be true. I'd like to hear more from the "person" who knew and then posted that. Wonder what my chances are? LOL
The final dump of over 700,000 shares which drove us to the $0.11 handle was catharic for the rest of us longs. Kind of like blasting a beaver dam to remove the more normal channel flow in a dammed creek.
The final dump of the remainder of that rumored position of size was a good reminder of the pratfalls of buying in size in an illiquid stock and switching up and wanting out--in an orderly fashion so as not to disturb the market--which selling into strength would have accomplished but then that is a pro move not an amateurish one like we've just witnessed--that was a good lesson to all who among us who like to accumulate million share positions in a very thin stock.
Possibility exists that that seller will return--in size--in 2014 after the 30 day wash rule tax planning strategy for dealing with losers has been cleared---since Scorpio has already caught their eye, is a producer, and just keeps plowing positive cash flow back into expanding Scorpio resources (and not proliferating shares by dilutive financing.) And maybe that seller will bring other buyers with him when they return. Possibility, not foregone conclusion.
Glad that is over.
Glad that Hawley is sticking to his game plan. As long as this stock is unloved and mis-understood because of Hawley's smart strategy, it will take time to see the share price appreciation we all are positioned for, time which allows patient acquistion on weakness and man but have we ever seen weakness NOT justified by fundamentals.
Have a good weekend, longs. GLTY
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM