Street pumping fizzled out and now lagging day traders are bailing out. They must have dumped some 1M shares they had bought earlier on one of those high volume days.
during past two weeks. Can anyone tell me what they expect to happen to revenue and profits with this new delivery and sales effort? I will add more below $1.60 because Fat Cats paid $1.75 and that was the reason for the price decline.
Sold some I had bought past few weeks at $3.06 but holding my core position. This sudden activity is because of the Street pumping. Their pumps are followed by day traders and it usually cannot be sustained. They buy cheap and get the day traders and momentum traders excited and then dump on them. Of course, GURE needs no pumping to rise and it will on its own time.
nickolus3, VELT was not a bad call though I don't actually call them and never recommend buying or selling a stock other than stating my ownjposition and when I buy or sell. As you can see I do not register a buy or sell sentiment at the end of my posts. VELT would have been a bad call if you were a momentum trader which I am not. I trade primarily distressed companies and largely those which are a merger/buyout target or subject to capital infusion. I buy them when they are most distressed and I buy when everyone is selling. It is not unusual for the price to go below my first entry price but since I am confident about my choice I continue to accumulate as the price declines as has been the case with PME and hundreds of other stocks I have traded on past twenty years. I trade short term with the time horizon of up to one year. Based on the trading behavior I knew that a buyout was in the works for VELT as I had indicated in advance and I first got to buy it at 16 cents and took out partial profits in the $0.20s as my posts on VELT board indicate. But the buyout turned out to be complicated and different than I had expected. Then I bought more shares at 8 cents and my average for VELT is now at 10 cents and I am relatively confident that I will take out huge profits out of VELT. If I don't my losses will be rather insignificant compared to my gains this year.
About this cjboro, he is a clown that follows me from board to board, primarily of stocks that have risen significantly, and bashes me by foolishly thinking that people follow me and by attempting to cut my credibility he can discourage the buying interest in that stock. He uses different surnames and has been bashing my since I began trading HAFC few years ago and accumulated it at around 80 cents and sold most of my shares at over $16.00. He does not hold this or any other stock as paid bashers and pumpers are not allowed to trade a stock they are paid to bash or pump.
at $1,55 premarket. I love the way OIBR is trading with huge premarket attacks. It reminds me of the trading behavior of the depressed European stocks like the Irish, Greek, and the Portuguese stocks I have traded in past several years. We just had a 1M shares at $1.70 traded AH. I hope we get another big sell off attack tomorrow. Like to add more shares while it is cheap.
The Street is a manipulation Station and more likely the intention is to pump the stock so they can sell the load they have accumulated on the cheap and are impatient as it is taking longer than they expected. But there is nothing magical about $4.00 to $4.50 price and it is what I have been saying since GURE was just over $1.00. It is natural and logical for GURE to get to this level just based on the fundamentals even if it was not a merger/buyout target. A firm that consistently shows positive profit and is trading at a price far below its book value and at around its cash per share value will eventually attract big buyers and rise. There is no reason for GURE not to go up with or without a buyout. I can think of only one hypothetical negative factor assuming other things constant. That is if certain parties to the lawsuit opt out of settling and purse the case separately. That should become evident soon and in my view has no long term bearing on the long run price though it may temporary depress the price which is a good time to add more shares. Of course, this possibility is hypothetical and theoretical while the data we have is real and within the domain of logical simplicity with logical outcome.
alan, you just presented a very good argument as to why the price is depressed and why it is a good time to buy the company on the cheap. Your reasons for not wanting a buyout is precisely their reasons for wanting a buyout.
You are correct. It is cheaper than cheap at this price.