The market is less worried today than yesterday going by the modest sales and the price edging up throughout the day. Anyone worried enough could have got out today and been in front overnight. The market has ruled and the ruling is things are satisfactory for the time being.
I was expecting an announcement today but the company was under no obligation. So far this month the SP is trending sideways and edging up. A production update could come at any time as could the outcome of refinance negotiations. I will be watching and waiting.
Non holding tree shakers are attempting to talk down the price but so far it ain't working. I imagine at least some of them are motivated by self interest rather than altruism. Every short out there will need to be closed out at some time and that would be motivation enough to attempt to talk the price down.
LYC Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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