It has been a very well organised pump indeed. Plenty of pros jumped on the bandwagon to push it higher and higher. The dump is likely not from the American money or the placement people who already have shares. They would be helping to "walk it down" though. To what was aptly described as "weeding out chicken littles".
Ask yourself why you bought. Did you buy Benitec or did you buy a fast moving stock for profit? Timing is everything.
If you bought Benitec then sit back and relax, you bought for trial results etc. right? The brains trust and long termers here had been underwater (indeed many still are) for years and held firm.
Strauss, it was a combination of things that got this going. It was pumping along nicely and getting American airplay just as the CR would have been at least being talked about. It was obvious they had to pay a good price and probably knew it had to be over a dollar even before the SP got there. Voila, some great posts over there and here too. Then some US retail buying and them handing plenty out at US$1.30c..... Then they let it run and then the CR. My thoughts on a pullback were $1.80ish bottom but now I'm not sure. My $1.57 parcel might get stopped out. not a worry for me, i will try to find the bottom again. I didn't bother selling any because a trading halt with the right info will be too valuable. I dont really expect any big news just yet. Fibs and and gaps and games will be the order of the days ahead.
As for my perceived value ATM.... I think the CR was a huge positive and the market should reward it by holding well above it. Where that puts charting for bottoms may be answered more easily after the 3b is out for day or two. $1.43 should bring accumulating buyers back IMO.
BLT Price at posting:
$1.81 Sentiment: Buy Disclosure: Held
