"It's strange after a move with 11 mil. shares to 1.25 we quickly dropped again .It's like a game between funds to sell and buy to each other with gains of a few cents" Sharky
On Thursday, Nov 11 RJ (Raymond James) was responsible for about half of the 11 million shares traded that day. He was unloading his (or his client) position including few 500,000 shares blocks. RJ used the retail investors enthusiasm spark by the Q3 report. As usually retail (small) investor ignores the detail and see what they want to see, which is nice crafted headlines.
Next day, Friday12, RJ downgraded the CLL SP target from $2.25 to $1.5 per share.
CLL shares drop from $1.25 to $1.18 on 5 million shares traded producing more unhappy investors. I found this after the market close. It was to late to to take the profit and run. I was very close to pull the trigger today. Will have to wait and see what the market will bring us tomorrow.
Note:This year CLL use to be a number one holding in RJ Canadian Focus Fund (FTC 551). It is gone now. 2010 fund return is 76%. Can you argue with their money management? Hope you all did better then RJ.
PS:
Marlboro,
I hope you will not get the whiplash by watching these nice Brazilian girls plying beach volleyball there.
I am living on Sunday to Mexico for few weeks as well. 29 degree Ocean and Don Pedro (12 years old Brandy) is just what I need this days.
Booster,
100 mil convertible will add 20 million shares.
BTW, I have got the Uptrend subscription as you recommended. Works very well. Thank you.
