Re: Looking for an honest opinion
in response to
by
posted on
Mar 17, 2011 04:27PM
Here is my two cents.
I do agree that it looks like this market is definitely being held down by some entity. I wouldn't think Cliffs as the price for chromite has already been pretty well established by what they paid for FWR and SPQ.
That leaves me to conclude that there may be an interested party out there for the gold side of PRB.
It's also possible that the price has been kept down in order to facilitate a private placement. I don't think its why, but trying to keep an open mind.
I also believe that bored retailers have done alot of the dumping as they have no patience.
Its a great trade for day traders as they can move this around on such little volume and make 10 or 20 cents a share in a short period of time knowing that the bored retailers will panick and dump shares.
I think that the drills are progressing well so its not like people are jumping from a sinking ship.
Time will tell, hopefully sooner than later