Based upon today's new in regard of interest payment being deferred, it is preferable to hold on to your position.
If you bought recently, your average cost would be in the 0,05 to 0,06 and the possibilities are still very high for a default or a bankruptcy procedures. Therefore, i would use any rally to sell some shares to try to obtain a close to 0 average cost (the free shares concept) and hold to them until final resolution.
But with the actual pulp and paper problems all around the globe, the chances that CTL would get some kind of re-financement without wiping all actual shareholder value, is very very low.
CTL is now a highly risky speculative buy and for the coming weeks it will be into the hands of speculators.
You can play the game but be extremely cautious. Odds are not in CTL favor (or shareholder favor).
As of today, Canadian dollar has lost about 10% sinc July, demand has been stabilizing somewhat and this quarter should have been at least break-even. So what happen? They had about 18M$ in cash and close to 108M$ in credit line available. What else do they know that we do not at this time? How went the first 2 months of Q4 ? Are they really that bad? What is 2012 outlook ?
I will ask and try to obtain answers.
As usual never invest more than you can afford to lose.
If you bought recently, your average cost would be in the 0,05 to 0,06 and the possibilities are still very high for a default or a bankruptcy procedures. Therefore, i would use any rally to sell some shares to try to obtain a close to 0 average cost (the free shares concept) and hold to them until final resolution.
But with the actual pulp and paper problems all around the globe, the chances that CTL would get some kind of re-financement without wiping all actual shareholder value, is very very low.
CTL is now a highly risky speculative buy and for the coming weeks it will be into the hands of speculators.
You can play the game but be extremely cautious. Odds are not in CTL favor (or shareholder favor).
As of today, Canadian dollar has lost about 10% sinc July, demand has been stabilizing somewhat and this quarter should have been at least break-even. So what happen? They had about 18M$ in cash and close to 108M$ in credit line available. What else do they know that we do not at this time? How went the first 2 months of Q4 ? Are they really that bad? What is 2012 outlook ?
I will ask and try to obtain answers.
As usual never invest more than you can afford to lose.
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