reason for rise, page-20

Folks,
I've been trying to pick up a parcel of CTP for weeks now, always just miss out.

OK - I heard this from a workmate who has a broker friend in a big investment fund. They get any news first, then feed it to their preferred clients to cash in on commissions convincing people to buy before the general market finds out. This guy is usually spot on and has preempted big events in other stocks like MEO, LNG and ERA.

MY friend at work emailed and said CTP is on the way up big time today 30 mins before it did. I had a buy in at 14.5c. It opened at 15 this morning.
By the time I could log into Commsec and check it was sitting at 18c - too late. I tried to get in at 16.5c thinking that the euphoria would wane and the buying panic would dry up and sellers offload for quick profit. Unfortunately for me it held support at 17.5 and never went below that afterwords.

The reason is pretty scethcy but here's what I know. APparently some well respected broker or CSG Commentator made an assessment that MEL/CTP resources and operations were undervalued by 300% and needed recalssification. ALso one or both companies have employed a few CSG/LNG gurus to help them. That's it!

I think they had no choice but to Halt trade because of the rumors, not because of an impending annaouncement. This smells of insider trading to me but maybe that's how the system works. Brokers always get the first news and spread the word and they spread the word etc.

Friday will be interesting. Suffice to say I would not be rushing in at top price just yet only to see CTP Fall back to 12c as it has in the past.

The frustrating thing for me is I told my Father in law to buy this weeks ago and he got in at 12c and I missed out just because i wanted to but half a cent lower! I'm spewing!

For what its worth
Cheers
DaveJ

Don't hold but want to!