Capitulation ?
posted on
Jun 07, 2010 11:20PM
I friend of mine wanted out today. He sold (through his CIBC acct) over 200,000 shares between .28 down to .255. He thought he would take a tax loss and move on, back to gold juniors.
To bad Brent Cook just didn't put a hold on BSK until further drill results or trenching samples. His sell rating killed the stock in the short term as many Fund Managers / Institutions subscribe to his $140us/mth newsletter. The day he declared a sell, we had over 2.2m shares trade. Brent Cook later sold his personal holdings at .46 according to his newsletter. Brent is not always right, he sold RR at about $2.40 it shortly thereafter jumped to $4.00+ and is now $6.00+
5/18/10 0.61 0.61 0.405 0.445 2,285,029 -0.195 -30.47% 0.445
At these low prices it only makes sense to wait it out and have faith that Management will prove up better grades.