very few sellers -city pacific shares may rise

Hi JimiHendrix2

There are very few sellers on the screen for City Pacific Ltd at the current prices.

From a technical point of view the relative strenght indicator is up from 35 late last year to 55 at the moment.I think this indicates there is definitely more turnover and this is supported by quite a few buyers on the screen a little below the last sale price.

Now that the Christmas Holiday Season is over I am expecting that the large asset sales including the Paradise Resort (then under negotiation) mentioned in the press release for the CP1 Annual Meeting (CPK) will soon be consummated and announced to the market. No I don't have any inside information just a feeling everything is ok otherwise CP1 would have advised ASX.

http://www.goldcoast.com.au/article/2008/11/29/27061_gold-coast-business.html

You can copy and paste the above article.

If everything goes as planned large debts will be repaid to CBA and City Pacific Ltd. This would be a huge boost to the refinancing in late February.

Just wondering what your thoughts were JimHendrix2 ?