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Goldfield Corp. Message Board

  • dirtywtf dirtywtf May 24, 2013 12:32 PM Flag

    vote of no confidence...

    inexcusable silence

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    • Sottile holds nearly 2 million shares and didn't sell a single one when the stock was over $5 - the highest point in the history of the company and a massive gain for him. The only conceivable reason not to sell is simply that he thought the company was worth more than that. I'd call that a vote of confidence.

      Most people never quite grasp that the day to day movements of ANY stock are controlled by the market makers and is NOT a legitimate function of supply and demand. They basically have a license to steal and will do so happily. They walk the stock price down relentlessly in 100 share blocks, taking out stop losses and forcing margin calls to get the stock as cheaply as they possibly can. Remember, they are required to "make a market" in the stock which means they need to have shares available. When a big move up occurs they often deplete the inventory and are forced to sell shares short (borrow them or naked short since the SEC allows them to do that) to meet the demand, Of course that means later they have to cover so they will ALWAYS be trying to force the price as low as possible. Guaranteed that is what is happening right now with GV.

      I agree that management should be more communicative but I hardly see it as a vote of no confidence. All the statements they have made for the last year have been very positive and they have taken on significant risk with the equipment loans - all very strong votes of confidence in my opinion.

      The fact that the market makers are legal crooks is just part of the "market" and everyone has to live with it. It's not management's job or even within their ability to change the stock price daily. An "investor" takes the risk whenever they buy anything and the key is always never buy what you can't afford to lose and understand that these down days are just the market makers doing their best to cheat you out of your shares and nothing fundamentally wrong with the business or company.

      Sentiment: Buy

3.07Jun 24 4:03 PMEDT