Re: Why do private placement at $4? Some good reasons. - jonboy
posted on
Feb 27, 2008 09:14AM
Given that this group of six are the sharks (with but a few others and daytraders) your #2 and #4 do describe part of the story. There definitely is much more to it as well. Remember that several Majors and other early on interested parties signed confidential access agreements back in October. Part of such agreements include clauses to the effect that for gaining real time access to Noront's data these majors would not use the access for manipulation purposes and so forth. Thus the manipulation game and accumulation efforts have to be coming from elsewhere. Maybe associates of one or more of these majors and or other majors (or very significant sector interests) are involved. The ultimate fact is that the SP is behaving in almost very predictable patterns and the volatility is decreasing on intraday trading with but periodic bounces in 3-5 day periods.
As I have stated before, 'these things are NOT bad for the Long Longs. They do cause some challenge for those desiring to play Noront stock on day by day and swing time frame intervals. Knowing we have a very valuable company in our investment accounts and that there are some very important, capable, and involved individuals looking out for their own interests in with us is but good news. At the moment the SP also affords those who periodically access new cash and are 'true believers' to continue to accumulate shares to add to their relatively small(?) positions in Noront Resources at extremely attractive prices. It is usually the nature of very strong Longs to do such accumulation and then HOLD.
All is good!
Old Joe