CNTF...Getting the itch to accumulate...Here's why...
- CEO has bought shares for the past 3 quarters and today's action showed strong support (large bid sizes) in the $1.80's. Makes you wonder if he's back at it. If he was buying in the $4's and high $3's, my guess is he's buying below $2 (but you never know). Should know something in a couple of weeks. BTW, he always increases his holdings during the last month of the quarter. Past purchases were...
- 143,000 shares in Dec 2010. - 120,000 shares in March 2011 - 100,000 shares in June 2011 - ???,??? shares in Sept 2011
From the Q2 earnings report... "Mr. Dong has indicated his intention to purchase additional ADSs in the open market and through privately negotiated transactions. The timing and amount of such purchase transactions will depend on market conditions and corporate and regulatory considerations." http://ir.techfaithwireless.com/phoenix.zhtml?c=189668&p=irol-newsArticle&ID=1596805&highlight=
Anyway, can't say for sure who it was, but someone was heavy on the bid today.
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