The next two weeks are either going to be great, or very ordinary for CNM.
On the downside, the next two weeks mark the one year anniversary of the big price spike in May 2007. There was massive volume over that time, and the share price rocketed from 3c to 18c. There will be a lot of people, with big holdings, who may choose to take profits once their 1 year capital gains tax limit is over.
I have a feeling that's why that person dumped 500,000 shares on Friday. That would have only cost 20 grand to buy, so it's no wonder they've sold. If it was an insider they probably plonked a lot more on as well and that sale just gets their original investment back.
It wont take many people taking 10%- 20% profits to knock the CNM share price about. There were over 50 million shares traded on one day alone!
On the upside, we have to hope that there will be something in the budget for us. A nice grant or announcement off the back of it would be great - but then i've been waiting for that for the last month - and as the 3rd Ceto unit isnt in the water, and they're apparently spruiking around to sell shares at 25c, is a decent announcement a bit hopeful?
CNM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
