Yesterday and today there was some last minute selling which drove the price down. Guess what?.....I just noticed that the option conversion price will be the 5 day average discounted by 20%. What a coincidence.Lets see what happens over the next three trading days. This incredible coincidence means that the option holders will get their shares cheaper if they convert sometime early next week.Of course I am not suggesting for a minute that the option holders are behind this selling,after all that would be market manipulation at its worst, but anyway somebody is obviously selling and the question would be ,.....why sell now when funding is available, rig hopefully contracted soon, option conversion money coming in, drilling in Jan/Feb etc,... everything is about to start happening.
This may mean that tomorrow and Monday could be good buying days if the same pattern follows. Then early next week we could start to see some good recovery.
Occam
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suspicious closing activity.
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