Welcome To The Golden Minerals HUB On AGORACOM

Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

Free
Message: Trading thoughts

Back in the 80's when I was a broker, often when a substantial shareholder of a thinly traded deal (like ECU) wanted to sell some stock, they would call the company, who would call a "friendly broker" to sell for this shareholder. Then the broker would sell short and build his short and then hit the bids to drive the price down and cover with the buy of the shareholders shares, making the middle. I think this is what you are seeing when you get these large blocks crossing at closing, or even wierd prints at various times. The bottom line to me again and again is that ECU will not get any traction until there is consistent reasonable volume, say 1 to 2 million shares daily. These games will cease with real volume simply because the company will cease to be thinly traded and easily manipulated for quick pops by the brokers. Our little miner seems to be doing their part, and volume seems to be improving, but we are in the deadest trading time of the year, and until after labor day I doubt we will see any real action in anything. I would advise if you are financially able and really believe in the fundamentals of this company, keep bids in and make the sleazers work for their covers and if it becomes too much risk to reward, the games will end.

Share
New Message
Please login to post a reply