Firstly, one of the things that worries me is when SH become too enthusiastic. Some of the remarks here seem to indicate the case with some holders here.
The future is never as easy as it seems. how much Li will be produced in 5 years time, and at what price? Will Li batteries still be in the forefront?
Technology is changing quickly. Apart from the regular schemes coming out, I see that Sony, who commercialised the Li-ion battery are working on a sulphur battery. Will this be successful? In other words, don't get carried away.
But back to Acorn's selling. (if it is as I suspect Acorn still selling). We know they had about 65m shares. On the 18th, 19th and 20th of April they sold 6m out of a total of 40m traded on the ASX. Since that time another 140m shares have been traded on the ASX, (Chi-X, not included),thus following that ratio, another 20m sold by acorn. So if as written above and Friday was final capitulation, it appears Acorn were adjusting and balancing their portfolio only and still have 40m shares. As I said, we'll see next week.
kg
GXY Price at posting:
37.5¢ Sentiment: None Disclosure: Held
