I agree with pizza that smart money had already been accumulating before the trading halt. It was one of the reasons why I decided to buy as well.
I wrote this post before the trading halt on 1/11/14 as to what I thought was going on, smart money wise.
The post:
Hi QBLers,
I'm a new holder of QBL at 2.8c on Thursday. I just wanted to put my thoughts across about the recent share price movement.
-> Pre Wednesday the share price was on a short uptrend in anticipation of the scoping study\update that referred to the scoping study.
-> Wednesday close was manipulated by the smart money to keep the price capped at 3c, in order to accumulate more the next day if the news was good. They did this by orchestrating the day's closing auction so that the day would end at 3c (and not higher) by 1 share traded.
-> Thursday, the market sensitive announcement was met with eagerness and the share price did gap up on at 3.9c. It was either a very keen investor or a play by the big guys. The day traders got in at various prices throughout the day. The share price traveled downwards across the day to a close of 2.6c with the shares exchanging owners from day traders,nervous ones and triggered stop loss orders to the smart money. I wasn't watching the day's activity but it may have even been a manipulated downward move.
You can notice that there are some big players in this with the various CEXT (centre point preference matching) trades throughout Thursday and Friday.
-> Friday, a trading halt is announced and the smart money are set.
Therefore it wasn't really a pump and dump, it was more like a well thought out manoeuvre.
