PGH. At around midday yesterday, a cross trade for 26 million shares was executed @ 2.50. That is 7.5% of the company. Naturally it instantly dropped its value to around that level. There are not many entities that have that many shares to unload. Something is definitely happening in the background but I doubt I will be able to use it to my advantage. If I had been watching closely I should have loaded up for a quick trade, but I wasn't. My position is small @ 4.8k shares, but is very red.
Market manipulation definitely occurs imo. We both accept this. The manipulators can however not change the financials of companies, hence opportunity is created. The banks are middle men. They will continue to be very profitable long after we are both dead.
As you know I love real estate. Less stressful imo, because you don't see its value fluctuate every day, which in itself generates anxiety as one feels the desire to try and improve one's return by tinkering, which generally ironically tends to stuff your return up. You can also safely gear up to the eyeballs, like I am. This is the single biggest advantage real estate has over equities, and why, over the long term real estate will outperform equities. But you have to accept having a mortgage for it to be effective, which last time we talked about you were not keen. The real estate market as you know also moves slowly, and the cycle is measured in years to decades. I am also looking around for another purchase but I think we have at least another 6 to 12 months to go in this correction, so there is no hurry, and there is a small chance it could really tank for a year or two. That would be a great opportunity to buy potentially. Some green shoots are however emerging in the real estate market imo, so like everything else it's watch and wait. And lastly, remember the first rule of real estate is you never sell, which, without meaning to stir the pot, is kind of not your style.
No idea what the day will bring, probably whatever the market manipulators want. Agree with you, banks sold off overnight and we have little tech. So, CODB, happy hunting or meh... Take your pick!
