URC is not the only stock that is taking a beating... The whole broad market consisting of the TORONTO and CDNX, not to mention umpteen other indexes have been taking a bath for the last 15 trading days. Canaccord dumping URC shares at .32 cents, and following up was probably insider insight to the coming broad market flush. They certainly demonstrated loyalty unto themselves, but having seen their lack of ethics before, (my Opinion only), when it becomes a situation for turning their luck into positive percentage by abusing their ability to practice price manipulation with thinly disguised self right to protect their wealth, is definitely IMOP bordering on outright criminal activity.
They have money and leverage to sway the trend of many small Caps.
All of their 2010 picks have seen the same type of price movement, maybe just a coincidence due to the sentiment type of element share pricing, but just as likely could be due to market complacency and lack of initiating the effort to do their own due diligence, market players relying on Canaccord to promote strength and then Canaccord selling into strength using whatever means available to make a profit.
Just based on professional ethics regarding price bashing by dumping huge amounts of shares, precipitating a stock price plunge, is highly unethical on their part at the least, and displays a high disregard for the so called responsibilities they claim to be practicing as stated on their website. They could be even naked shorting which could take this price down to some really lower levels.
Death spiral financing and/or Naked shorting is counterfeiting and selling stock shares by way of loop holes in the method of reporting and covering the sale that can only be uncovered by a forensic investigation. A really slippery slope with no motivation from securities commissions to go after it in a meaningful way. (again just my own opinion).
Do some googling on Canaccord... there is some interesting reading that uncovers poor ethics admission by settling out of court, some issues that suggest alleged fraudulent activities on a grand scale.
On the flip side.... URC is a stock that is not likely to be cursed by the hated reverse split anytime soon... money in the bank... drills turning...and soon the price will be just right for taking a position, is not a cast vote for appreciation of Canaccord's involvement... just a recognition of one of the dynamics of Small Cap speculation.
The market has a short memory and that is what Canaccord feeds on... it also doesn't say much for URC management for not taking an interest in potentially unethical behaviour regarding their stock. Regardless...
Keeping in mind that speculating in Small Caps is an exercise in anticipating fear and greed sentiment, moving price from over bought to over sold in rhythmic patterns is normal course, does not take the bitter taste away...
Still..... if the securities commission doesn't care, you should if you can, and have the will, take advantage, as you will certainly be in a position to buy low, not the way I would have orchestrated, but then truthfully I don't have deep pockets, or tools Canaccord has.
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