One of the reasons why the vol. is higher today may be due to widely anticipated correction. Some guys have been saying that the correction is coming for a few weeks now. Considering the thin vol. in the USA trading, and predictions of 1000+ points pull back, and taking into account that fund managers have suffered considerable losses not so long ago, investing in a company such as CSL (63% profit up, div. coming, H1N1 vaccine test results coming up etc) at these levels may bee seen as a timely investment, and before the pull back.
Once the correction happens, some capital will be moved into safe heaven investments, and many of us see CSL as such...why not now when the SP is at fire sale prices.
I would not be surprised if we see the broker back off a bit today and if the buyback volume drops below 300K.
He could be also buying on any SP weakness and letting the instos top up at a higher price.
??
share buyback, page-25
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Last
$295.21 |
Change
0.050(0.02%) |
Mkt cap ! $142.6B | |||
| Open | High | Low | Value | Volume |
| $296.30 | $298.20 | $295.00 | $229.6M | 780.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 248 | $295.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $295.21 | 42 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| CSL (ASX) Chart |