While CDE was down last night, it was only down 2c, which was a massive positive when you consider that Silver was slaughtered (down over 40c) as was the rest of the market.
The fact that CDE held its ground on large volume amidst a heavily falling market was a very strong sign.
A lot has been made about growth stocks being a good place to park money in this market. Having listened to the CDE q2 presentation they are clearly selling themselves as a growth story. Analysts must have liked the presentation which provided positive updates on a number of the company's projects including the BSG transaction.
With a market rebound likely, I think CDE is well placed to begin a new upward phase.
Aussie dollar falling below 85c also places the bid value at about $3.16. Credit suisse is clearly tapping this arbitrage having yesterday posted a revised shareholder notice revealing a 7.1% holding (up from 5%)
BSG
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