Re: Market Action Rambling
in response to
by
posted on
Mar 05, 2008 09:05AM
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The end of those warrants will be the most important factor (next to hitting a discovery hole in Big Sky) in moving this stock. We've seen a continued selloff from one broker which is not a broker that is normally a trader of TDC. Also a fair amount of anon selling. These are obvious signs of selling by warrent holders, very likely either Sprott or JP. One can't really blame them too much since both had huge positions and probably wouldn't want to carry any more shares than they have.
In any event, there's no selling by this broker today so perhaps they've exausted their shares or decided they'll hold onto the rest.
As for FB, he must be beside himself with frustration. It's got to be very hard to have been bullish on gold for the last umpteen years and then suddenly take a bearish stand as gold starts moving into a hyper mode. He's told his subscribers to sell all their gold positions. I haven't seen anywhere in the last couple of newsletters that's said you should consider TDC an exception. FB has said he may be forced to reverse his position if gold stabilizes. This would essentially mean a flood from his subscribers scrambling to recover positions. I don't know what kind of influence FB has but since juniors are relatively thinly traded, this could have a very positive influence on companies like TDC, XRC (XRA in the US), AXR, etc...
One has to believe that he's not the only Gold bear on the verge of seeing the golden light. I wonder how many banks and investment houses that have been shorting gold will be covering if gold does in fact prove support and start to move on towards 1200 or higher.
Good luck to all,
Diabullic