Thank you for the excellent posts here folks. I have been reading them since this story went to the front page. SH is getting out of control, but i still have a good laugh everytime i check.On to business though... There are few things we can be fairly certain of here based off of the news releases and the broker meeting... the assays pending should be good (how good? well we can only speculate)... the management team is very experienced, is excited about this prospect, and is working hard and will do all they can to get results out as soon as possible. There are many people smarter than me willing to place their bet based on this alone... which instils confidence in my investment. People tend to forget these two things very easily during trading hours. It is funny how this becomes so much clearly after hours and can probably be a part of the downside today lol. However...
We are in the waiting game... the days before news are always volitile as the big boys try to position themselves and little guys get nervous. It is fairly obvious that anyone who buys a stock after it has already had a good run will be nervous nellies until news and or consolidation confirms their investment. I have been in this situation a few times in my so called "trading career" and have found that there is a lot of emotion that plays factor when volatility arises and can make a person do really strange things. Eg) buy at the high... hold... and then buy more on a day trade to make up losses quick and then lose more (i am the first to admit i have done this before). I bet that there are a number of traders today that saw a potential low in the low 4’s or so and thought they were going to see a nice close again. But this did not come to fruition and only fueled the selling at the end of the day as traders had to exit their day trading positions. This however may only be a small piece of the pie and we can also assume that a number of folks cut their positions as a good investor should do after big gains (something i have always struggled to do... lol). As for manipulation by the big guys… well we all know that there is always that. To what extent... hmmm I do not fully understand how to quantify that.
I know most of you know all this… just thought I’d offer some thoughts on the day because we will likely see many more days like this hopefully only following large up swings :).
I am holding long, but like to trade a small position.
Intothewest