Quote:
Originally Posted by highfive
What did you sell?
I'm holding on to CUU. I'm waiting for the feasibility study to come out. With overall markets down 3+%, CUU will drop regardless. IMO, good buying opportunity. Too bad I bought it earlier today at 1.63.
A day like is is when you close your tabs and go to the white chicks page to distract you.
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^^ yeah for CUU, although there was a big sale today, it really doesn't matter if your a long, since we know what we got and it isn't going anywhere. If your a day trader though, today was a shitty day and sorry to hear that.
too bad i'm already all-in or else i would buy more CUU at 1.5x that is a damn steal! however i think there is still pressure to go down, and the MM will try to get this as low as they can to hit the stop-loses. One thing about today i found interesting is someone in stifel is selling....but we can't conclude it's teck selling unlesss it becomes a constant thing with huge numbers and if stifel from before is really teck.
in regards to the buyout/back-in, i think teck really has no choice; galore creek is bunk and they are running out of copper at their other mine. If CUU is picked up, they can start producing copper when the other mine is about to deplete which sounds like a good game plan. Also, they are just waiting for the PFS to confirm the deposits and once that comes out we should see an answer from Teck relatively soon.