Re: So much for those who say CUU always sells off on news....not so
posted on
Sep 11, 2014 02:25PM
You know the old joke...' Today has been cancelled due to lack of interest' ? Well. I think it may be a combo of what everyone has just said. For the most part, I think it may be that as the volume trading left long ago, leaving the price to dwindle down what it is today on low volume, the institutions are still well aware of us but rightly concluded that Teck would take their time and that there would be good short term money to be made with plenty of time to get back in. Some would then argue 'yeah but you don't know when they will pull the trigger'. True, but we need to humble ourselves and realize that the pros also have good contacts and have a much better feel for this than we do. We all agree that the goods are in the ground. So the market reflects 'timing' rather than 'value' if that makes any sense. Anyone agree?