Re: Putting up high Sell orders on TD...Stratopod,Ktnjo... & Junior 112
posted on
Jan 05, 2008 08:26AM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
When you posted this last night, Canseco, I was sawing timber. Only now after out morning coffe group meeting and the hockey game, am I catching up on what is being posted. This business of offering your shares at a higher price seems dangerous, in my view. Anyone is welcome to do as they see fit, but I'd never risk my shares in this type of action. From what I have read before it is a means to prevent the broker from lending those said shares to someone who wishes to short the stock. Noront is in a position due to this find that at any time with some dramatic news they could ask for a halt to diseminate news. This is usually only done with something more than what may be considered ordinary news. If you have a sell order at $2.50 higher than the trading price, once the share price goes above that amount, your order becomes a market order and is sold at any price that goes above where you have set. From what some are saying, it seems about $7 is as high as what is being allowed. Dramatic news could propell this stock well above this amount and you risk losing your shares. You had better be ready to cancel that sell order before trading is resumed. Mr. Nemis has stated that he sees $28 coming. I have no reason to doubt him and others here seem to confirm that he is a man of his word. He is among the few people who have the best insight of what Noront really has. This practice is designed to foil the short seller. My view is go ahead, whoever " they " are and short all you want. One day they must cover, and that results in more buying when buying is already heated too much. You risk losing your shares to save a few of these people from getting burned. Think about it!!!! I say let them burn.