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Zeeshan

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17/06/19

16:58

Post #: 39097985
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Originally posted by Darkstone: ↑

Well, this is all a total guess - and probably wrong - but it still looks to me like their is a group doing serious buying, and another group still trying to short it. I can't decide whether they are effectively the same groups, because what it looked like - until today, was that it was being held in a range being bought back, but it went down too low today for that to be right. The opening attack was intended to take out all the resistance. The resistance didn't melt away - it got bought. Then there was a nothing really supporting it for a while at 139 and it looked like they ran out of shares, then the buy back started and an hour later the support wall was back and then drove the price up to 142 where it was basically held for the rest of the day. Then at the end they seemed to want to push it down a bit but the buyers kept grabbing pretty much everything between 141 and 142, not really going over 141.5. I doubt there was a lot of retail in this - I think retail was too stunned to move. So somebody just bought 6m shares and put up a wall to buy another 1.7 in the first 3c

With this scale of trading, I can only think there are insto's involved on the buy side, but whom? Now what's curious is they they let it go to 141 at the end. I expected them to force it to 142 in the aftermarket. The aftermarket was big, but we have seen much bigger, and that wall should enabled a bigger aftermarket.

I'm guessing we are still in buyback mode, but I wouldn't want to be quoted on that. Got to think about this. There is nothing like this sector for manufacturing its own black swan events, is there? Ore, SQM, PLS ..,. and the list just goes on.

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one thing cant be more than certain that it is a sector wide assault.

they are all going down as one, some more than the other but they are all going down for last 18 months.

When they tide will turn they will all go up as one as well.

sooner or later.

GXY Price at posting: $1.41 Sentiment: Hold Disclosure: Held
8 Upvote

0 Great analysis

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Chart, page-12806

Top Stories

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Buxton projects new graphite province discovery at WA Narryer play

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