dead cat bounce

Have been watching you guys get all hyped up for a few days now while I did a quick trade on the pre-announcement signal from the software.

Now it's classic head and shoulders pull-back till the next dead cat bounce.

The usual "feel good" announcement this time about the Chinese. Anyone in business has a draw full of Chinese MOUs and Heads of Agreement. What's with the 6 months wait for a real contract? My guess is CNX have to spend money convincing the Chinese the IP would work on their coal. That will be fun since they haven't proven it here yet (Ergon has not paid a cent yet for their electricity which means the export probably wasn't enough to turn a meter.)

Second announcement was a surprise as I'd just bailed out at 10 cents. A blatant advertisement - come and buy our coal - even though it's only a JORC "target" and deep at that. They must be getting desperate. The borrowed money runs out by July, so I guess it is desperate times.

What interests me, apart from why we are not allowed to see the forward provisions in the accounts, is while you guys are buying so enthusiastically, who's doing the selling?

Not that it matters for these quick trades. But it is interesting that so many want out.

I expect it to drift down to about 6c then another announcement.