After the halt was lifted, I found the volume stank. Ths was a stock in distribution. So I dumped all my stock a while back at .56 - it was me that caused the big panic sell on the 27th. :-)
I had what I thought was a stink bid for 47.5, and it got filled immediately this AM. Not the same number of shares because I want a lot of cash on hand and have also moved my focus to SVL and DMM which have a lot more immediate upside.
I'm happy with the volume we're seeing today - as far as I'm concerned, this is the amount of volume CMM needs to support its share price. People throw around 44 as a downside limit, and I can see the merit in that prediction. But I think CMM needs volume of 1-2 million per day to support its share price.
Market may forget Peggy in time and refocus on CMM's numbers. Then we'll see appreciation from here. Fundamental value is still positive - I wouldn't expect much over $1, but definitely 80 cents by Q3-Q4.
But I would still counsel anyone who can, do keep 30-50% cash on hand for the rest of the summer at least. CMM isn't under threat, but most of the market is. Anyone who needs financing (like an exploreco) could get wiped out again like last year.
Glorieux has now taught me to take half my winnings off the table on a double, and not be a pig. Thanks Glorieux. My ambition as a newbie investor is to make all mistakes once, and then learn from them. I am doing well for a few months work.
