Well, I have to say now I am as shocked as you at the delisting of PNK. I only recommended this the other day. (Sorry to those who fell over on this one) It seems that insider trading hasn't been completely weeded out just yet. We will consider this a little more closely with a major shareholder dump.
In other news, Midas Commons has released a notice that (MFM) and (MPM) will merge into 1 new stock (MGF).
So confidence and maturity took a solid punch to the chest and the market was slow with the exceptions of: (AMI18%), (FDE7%), (SUN100%) and after the merger talks (MFM100%).
- Action Mortgage and Investment (AMI) continued a steady run up gaining as Stryker Yoshikawa picked up some of Rock Tobias' (5.85%) shares lifting holdings to a massive 20.25%. AMI closed at $L0.20 with the top of the spread still pushing $L0.25
- Four Deuces Entertainment (FDE) surged to $L0.30 as Investor Merlin increased position to 0.43%
- Kush Islands (HOT) Not a mover today, but strong news of expansions and a massive $L0.09-$L0.12 per share dividend expected. No major shareholder activity since September 28th just adds to the positive feel. Sitting steady with low volumes on $L3.08
- Sun Media Consultants (SUN) Major shareholders Xiang Miles(11.15%) and Bruce Norse(9.62%) have been busy increasing their positions this week sending
- Midas Fund Management (MFM) surged after merger information and high volumes before the implementation of the combination of stocks. Investor Merlin sold almost 50k of shares reducing position till 2.35%. The stock closed up at $L0.14
Recommendations - after taking a beating this morning, our risk-bone has retracted slightly. Sticking to some more solid stocks today:
- (HOT) is a definite accumulate with the strength of the company @ $L3.08, but try and get in around the spread, as there aren't many investors willing to part with these and volumes around the spread a low...spidey senses are tingling!
- (HCL) dipped a little today, definitely a buy at $L0.67
Logansan Oh
- CEO, Chairman - S&W Assets and Funds Management
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