Re: Why no news/
in response to
by
posted on
Mar 19, 2010 10:58PM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
EZ, I can agree with a lot of what you say when it comes to institutional buying... fundamentals count for much more than what the insiders hold, especially when it comes to large cap stocks. Like you, I trade Goldcorp, Barrick etc. and couldn't give a rat's ass about what Munk or McEwen or anybody else buys or sells. On the other hand, I've done quite well over the years on a few small caps/juniors by watching and doing what insiders were doing - upside and downside. In hindsight, I wish I had taken a better look at Oppenheimer's sale and followed him.
Let me fine-tune this a little... I have a shitload of Crystallex shares and I'm not selling, but I'm not buying either. If the filings showed insiders buying shares of Crystallex today, even in modest amounts, it would bolster my confidence and I'm sure the confidence of many others (probably numbered in the hundreds, if not thousands). I would respond by buying several hundred thousands of shares at these levels... maybe more. Many others would buy also and guess what? - we wouldn't be sitting at 32 cents anymore. That's retail.
A little renewed buying interest and a higher share price might make the prospect of raising a little cash go a little easier as well. That's institutional and/or retail.
I know one thing for sure - a higher share price would go a long way in terms of the mental health of many of the crazies on this board... yours truly included ;-)