Re: thoughts on VENTANA today
in response to
by
posted on
Dec 14, 2009 11:52PM
We may not make much money, but we sure have a lot of fun!
just my opinion, not investment advice...
days like today literally take years off mylife I'm sure. fwiw, I'm in the index exclusion camp. a lot of us will recall the trading action when aurelian got picked prior to the date and that first monday. every article I read in the last couple of weeks on this years index addition had tipped Ventana as being included so there is no doubt in my mind that a few hundred thousand shares had been picked up bu index funds in anticipation...
so when ventana wasn't included those trades had to be unwound. problem is we had assays due and the legal issue is currently unresolved. when the stock started the morning with a drop, I'm sure this index fund unwinding was interpreted as a negative development with the assays or legally that lead to a snow balling down.
the company released assays which were VERY good imo so that fear was put to rest. in talking with the company i'm told there have been no developments on the legal front so if we're to believe them that should put that concern also to rest. the stock seemed to respond by getting almost back to even.
found a 1million share bid entered early in the afternoon pretty interesting. I suspect that that was Batista trying to get back what he sold. I guess we wil never know.
Regards,
Buck
ps. did my latest count on EAS and have them at 1,155,000 ounces. the stock isn't cheap here but the deposit is very open.