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Message: Re: Thin on the asks. Up 3 at open
1
Feb 08, 2012 09:30AM
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Feb 08, 2012 09:53AM

Good call CG.

There is certainly still a strong demand for the CGX shares, which is comletely understandable given 2 pending wells, and with no recent news being released. Some new releases later this week on the status of the spudding should see a pop.

But ultimately, regardless of the ups and downs over the next couple of weeks will be the ultimate test....results in a little over 2 months ...or 3 at the most. In a year or so from now, I wonder what I will be thinking as I re-read this posting ?

Another observation is last weeks pullback, it would appear that someone sold over 6 million shares into the ask, and that pushed down the price to a surprisingly low level (although I took the opportunity to pick up a few more shares). Thought the timing of the large sell-off was unusual, but I suppose a little profit taking by someone who had shares purchased at $0.70 was too much to resist.

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