Tuesday, August 7, 2012

Last Thursday's action in Bear Creek

Last Thursday, Bear Creek really got hammered, all the way down to $2.10 at some point.

This is only ignorant speculation, but the stock has been a victim of program selling. Quite well pinned between $2.20 and $2.40 or so. Last Tuesday there was a massive amount of buys that still were unable to move the stock above $2.40 - so someone obviously was happy to sell everything at that price.

Then Thursday, the action got so bad that the program seller made an American with no TSX access throw in the towel and puke into the pinks:


See the 17.3k shares at 13:40?

Well:


That relatively large dump into the illiquid pink market caused the drop to $2.10 on the Venture.

So, hopefully mister program seller dude realizes that, on top of selling at precisely the wrong time, he's also fucking up the market by making weak hands puke.

So don't be a cunt, okay? Once you start making retail throw in the towel and bottom-tick their sells into the pinksheets, you're fucking up the market in a decent stock. Try to be a fucking professional.
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2 comments:

  1. So are you saying this is a short? lol. Just kidding, I watching and waiting to buy myself.

    ReplyDelete

  2. It certainly hasn't been charting like a good long bet, is it?

    They own a property that will be the 5th largest new silver mine to come onstream in the next couple years (4th if Pascua Lama proves to be a failure), should eventually receive good money from Humala to agree to walk away from Santa Ana (if his chatter about respecting property law holds up), and have $80M in cash. With a Santa Ana settlement their present market cap WILL BE LESS THAN THEIR CASH.

    But fundamentals don't matter if some insto dick who bought at $10 is now dumping at $2 without caring what that does to the position of some poor retail guy in Colorado who wants to manage risk.

    I mean, if you're an insto, you get on the phone to Sprott and sell your position to him. Or CIBC, they were strongly accumulating shares a few weeks ago - phone them. Or phone BCM's new IR team, they'll find a buyer for you. Or try selling to SAC or KORES if you have an appreciable position.

    I just really hate when a fat goof tries to bellyflop in a kiddy pool. It's obnoxious and rude.

    ReplyDelete

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