Re: Buying more to stay even?

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

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)

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MISFIT1

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Re: Buying more to stay even?

in response to

Buying more to stay even?

Relic53

posted on Nov 13, 2008 01:41PM

Smart move. I too bought today at .64 and .65. It reduced my average quite a bit even after recent tax loss sales.

I believe that if the PP gets filled that the big boys will play nice with each other and drive the price higher rather than lower through the traditional short, cover, short cover and use the PP share as insurance from getting over exposed on an oversell situation.

This time around these funds have money to recoup and while .80 cents lets then average down a bit they still have 50M shares +25 new million that they are going to want to see a return on.

The price needs to rise a lot higher than it is trading at today before they will unload given how long they have held in the past.

In the end I believe we will at least make it back which is like a consolation prize but one much desired given the current market situation.