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Admittedly as someone with only a little skin in the game here presently and so haven't looked closely at the detail, the reason why I sold a lot of my remaining holding at 2.82 was because it was clear that we were in a holidng pattern while Shore Capital did its dealings, and that it's always the case that a fall follows as the market tries to find its own footing. Not saying that this might not come good but I am saying that it has naff all to do with wider market sentiment.
OnlygreenRE: Rationale for the sp dropWed 12:45
Its a bit depressing reading this lot , share price is dropping because there are other things to make money on at this present time with the Nasdaq banging its way to 11000 just sold a little BPC and bought some ROKU and NIO but don't worry ill sell those before the next correction (I hope) and buy back some BPC. Id say the drop is because its a long way to drilling and nobody is sure of the outcome of either the merger or the drill . As per previous experience, the share price didn't do anything from OO October to Jan22nd about 6 weeks before said potential drillship movements. So, in essence, don't panic don't expect to be profitable over the next 3 months as I have not been in a profitable position for at least 85% of the time I've held BPC and as my useless FA frequently asks me why am I bothering to risk some of my capital. The answer is, I am prepared to risk it for the upside ( I have already seen the potential of ) to really kick in on spud.
Why then have you written on the copl BB saying you've bought there using money from your sale in bpc as this is getting boring??
At least we are in agreeable that the price is dropping now.
A few days ago you were in complete denial.
It shows progress, well done. :)
Pump: point 3 DOES have some bearing on private investors that read this forum! Otherwise certain persons would not be bombarding it with negativity several times a day. They are certainly not trying to persuade other regular posters with the same largely copy/pasted arguments!
I would also like to add a new point 4: The CLN holder got 199m shares in May and June for 1.27p if I recall. While selling these shares during times of high volume and while risk appetite is high, it didn't affect SP. However if sells are done during very low volume (with buyers waiting on the sidelines), it can create downward pressure. The downward pressure will last with the laws of supply and demand kick in...until a whale comes along and gets some cheap BPC shares in lieu of the merger.
Starchild
Thanks guys,
Star, point 3 is invalid.
This board has little o no bearing on the sp, you have just convinced yourself it does.
Its a bit depressing reading this lot , share price is dropping because there are other things to make money on at this present time with the Nasdaq banging its way to 11000 just sold a little BPC and bought some ROKU and NIO but don't worry ill sell those before the next correction (I hope) and buy back some BPC. Id say the drop is because its a long way to drilling and nobody is sure of the outcome of either the merger or the drill . As per previous experience, the share price didn't do anything from OO October to Jan22nd about 6 weeks before said potential drillship movements. So, in essence, don't panic don't expect to be profitable over the next 3 months as I have not been in a profitable position for at least 85% of the time I've held BPC and as my useless FA frequently asks me why am I bothering to risk some of my capital. The answer is, I am prepared to risk it for the upside ( I have already seen the potential of ) to really kick in on spud.
I would - anything is possible!
Pump: 'If the company is in such a great position and everyone is so happy with the merger (apart from me, Harry and Jim) why is the sp dropping?'
because:
1. low volumes which can cause SP to correct up/down with few trades.
2. Some investors have sold BPC and bought CERP for arbitrage reasons.
3. Some PIs have been spooked into thinking merger will not happen based of the collusion of a few individuals deramping BPC (some of whom wish to use smoke and mirrors to manipulate the SP down for personal gain...and 'feel good' about it)
Starchild
Exactly Nimp
That is a logical response.
Would you also entertain that investors may as well vote, sell and buy back once the merger is complete to save themselves the 25% dilution!?
Harry are you missing one of your mates... looks like just posted on here..
http://www.theangryinternet.com/theANGRYinvestor/showthread.php3?threadid=4214
Pump, I'm putting shareprice dropping down to uncertainty of where things are heading..suspect it will be like this until the AGM
Let's cut through all the 'ramping' and 'deramping'
If the company is in such a great position and everyone is so happy with the merger (apart from me, Harry and Jim) why is the sp dropping?
I don't want to hear 'mm's playing games' or 'there is a wale in the water'