Very interesting trading the past fortnight, all post MIN's news of their increase to 19.90% holding as of 15th June. I think we can all see the underlying strength in NWE trading... today's trading was a case in point... some nice line wipes and a real sense of urgency as others have noted. Chart is looking pretty healthy too... All the more interesting given the overwhelmingly depressed market conditions at the moment.
Now, I've been contemplating Bell Potters recent trading. Thanks to
@Seb93 for providing the broker data, it's really helpful to see who is buying and selling, retail vs insto etc. Appreciate you keeping this data coming. It certainly helps me to see what I feel is in play here.
So I am thinking... since 15th June when MIN reached 19.90% holding, we know MIN hadn't bought anymore as of 21st June. Yet, BP have been very active in buying on market since 15th... and I've just tallied up all these purchases to the 27th and we have ~51m shares in total. That's from only 8 days of buying. And if it's not for MIN then who is it for...??? Interestingly... 51m shares would get you into the Top 20... probably at no.10... but even more interesting is that for the first time in as long as I can recall, NWE has not updated their Top 20 listing. They were religious in doing this every week on a Wednesday... Coincidence? Maybe not... but I have my suspicions... and I can't help but think something is brewing and it's not going to be long before we know what it is.
ps - Really enjoying everyone's contribution of late. NWE's threads have been a fantastic platform for some honest, respectful and insightful posts. I enjoy coming here to read and FWIW the journey has been more enjoyable for it. May it continue and GLTA.
