Today's trading was dominated by Jitney and BMO on the sell side. With the falling share price we also got some selling from suspected former creditors that received shares for debt - selling through Instinet and Anonymous. Yesterday Caldwell dumped an additional 270,000 shares in a single trade at 61 cents. I think releasing the Q1 financials today stemmed the tide as there was probably a fear that if these were late, then the stock and management credibility would take another hit.
5 comments:
Add Jitney's and Anon. and we get an even million plus 300 shares! Maybe just co-incidental.
i am new to this cmm game. can somebody help me.what has changed so dramaticaly to negativally effect our stock price.
anony: are you suggesting jitney and anon colluded to manipulate the price?
Two factual sets of data (numbers) add up to what two sellers SOLD.
I don't see any SUGGESTIONS.
This is for Paxman:
Obviously, some people were upset with the Cease Trade Order. Investors want and need liquidity, and that's what the market is suppose to give them. When there is no market at all to sell to, people panic. Those who panicked and wanted out, brought some pressure to CMM on the sell side, but keep in mind. The day before the Cease Trade order, I believe we opened at 67 or 68 cents (Yes, I know we closed at 76). So, at 56-57 today, I don't think we can consider CMM down dramatically – Ran almost non stop from 20 to 70 in a very short time. It is normal for a consolidation after such a run. I believe we have tremendous upside, and just need to give management a opportunity to show us what they can do. Don’t think days, weeks or even quarters, but think Years. Those who do think this way will be rewarded. And many on the SH Board have become consumed by analysis paralysis. They think the company is trying to keep the stock down (Ridiculous – absolute rubbish – why would Peggy want her 15 million shares worth less?) Other accuse brokerage houses of dumping and driving the stock down. I really think people are trying to make sense out of what happens on a minute to minute basis. If the stock is down 2 cents, there must be a reason. The reason is simply – you don’t need conspiracy theories to figure it out. Slightly more sellers than buyers, and it goes down. It works the other way too. The overall market is much more volatile than usual. Currencies currently are making daily moves that used to take months, stock are much more volatile also. Commodities too move much more violently then in the recent past. The recent Financial Crisis world wide (which greatly affected CMM), and the current European crisis with both Greece and Spain, (PIGGS), as well as the Euro currency fluctuation has made the market moves dramatic. Try to forget about the background noise, and concentrate on the fasts. CMM has just begun production at Lamaque. There is lots of gold there. They will prove up more. Gold is rising, and is the place to be. I started buying at 11 cents, and have continued to by with my last and highest purchase at 63 cents. I still think it’s cheap! Good Luck, Pete
Post a Comment