Bilo - I tend to agree. Like, why would you bother go chasing NEN shares up on the buy side today, it just not in your interests do do so, when you know full well that if you pitch an offer in at around 30c the market will come back to you in a few days' time.
Any body that has been watching NEN over recent times i.e. 95+% of intelligent/informed share investors/traders, will be waiting for "that big announcement" and will not be pushing up the price or jumping in on the current surge. That's why it's been dying in the a*#s, because there's only about <5% of buyers that believe that this is the big push forward when the announcement clearly says that this is not the case.
Look at the tapering volumes, the easing on the buy side as offers are filled, with a modest profit take and usual build on the sell side - nothing abnormal at all - just 'very average' market forces at play. I'd even go so far as to say that I'd be surprised if there was any HFT going on, the vol doesn't appear to support it.
Also, look back over NEN's trading trends following announcements. If anything, the market for NEN appears to be very well informed, knowledgeable and comfortable about their holdings and NEN's prospects and are not your over-excitable/rash type punter.
NEN Price at posting:
33.0¢ Sentiment: Hold Disclosure: Held
