Observing buying and selling patterns is in my opinion better (more reliable and accurate) than listening to rumours or even company reports (I’ll never forget the words of my old boss – the CFO of a fortune 100 company - who said “you can make the numbers tell a person anything you want”!) because it’s a clear trail of where the money of investors is actually going. To each his own i suppose. The behaviour of buyers and sellers of NWT has been very peculiar all year in my opinion.
1. We’ve had big buy orders at market, followed by a complete lack of follow through.
2. Then some random/infrequent large buys (almost always at market)
3. Regular attempts to ensure the price closes at the lower end of the day’s trading range (eg as recent as the last few days where 30-50k in stock is traded at market followed by a measly sell of around $200 after 3.30pm and sometime at 3.59).
4. The trading range is at best 0.002 per day. Yet there are a huge and disproportionate number of sell orders several standard deviations above the average trading range, including many sellers waiting above the highest sell price of the last 18-24 months!
If I didn’t know any better I’d be very confident that these buying (and selling) patterns are extremely good signs of grand things to come.. But at the same time we haven’t had any follow through, and the buying is so sporadic and unsustained and probably not large enough in volume to amount to anything exciting (other than a few days in April and a chomp here and there).
Good luck to all the holders.
Candlestick Maker
NWT Price at posting:
20.0¢ Sentiment: ST Buy Disclosure: Held
