I have no idea why the US fund is selling when oil majors are moving into the Phillipnes like it is the new oil frontier - perhaps the fund are in trouble ?
All the same, it is no mystery who has been selling large amounts in the recent past . When I look at 15-17 cents in the depth I can also safely assume that there are tick traders (including T3 traders with time restraints) looking for a quick scalp. It happens .
But you can't ignore the question, where have all the bulk shares gone when the price has fluctuated in such a tight range ? Is there a company that has held off disclosing it's substantial ownership, or is there multiple trading accounts that have been used to keep seperate ownership under 5%.
NDO Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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