They probably know who's behind it and why. The rest of the sell off would be other people protecting themselves from bigger losses. At this rate of decline we will be at 98 cents by months end. We have some pretty heavy resistance there. The next stop is 90 cents. Below that is a BreX style decent.
I stopped buying after giving some thought to the info and timelines I think are for real. I think I'll do some buying after the sp shows me a solid day worth of increase.
After discussions with other investors we concluded that the gains we made in september are worth capitalizing on and that the sell off has just begun albeit weakly. We conclude that it will continue sporadically for the next week but will intensify for a week after but should then settle back into the normal pattern. We agree that it will be an extended sell off in some sectors. Since the guard is unlikely to change in Washington the patterns I described some time ago (and here some time ago) will prevail. (Your risk investments may come under heavy market manipulation, attack, but this is not risk off.) We conclude that Encana is a good buy now and purchased a small block of them but will keep the powder dry as there will be opportunities. We discussed increasing the % of the portfolio for risk investments like CUU and this was approved in princible. Should CUU hit 95 cents I will recommend a buy as soon as it stabilizes. (We take 3 days to react.) On reading the BFS I may recommend a buy. We meet again mid Nov to discuss the upcomming BFS. If by chance it comes out early we will discuss it by email.
So we will probably stake out a position even if Teck does not claim it's chunk right away.
