another hot rod - jervois -, page-19

re: got my attention again... Two scenarios for me...

1. Slow start, dip down to the low 3's, then a recovery towards the close, with a finish where we started.

2. Slow start, stalemate around the 3.2 - 3.4 level, then a quick rally back to 3.8c...all before lunch time!

Last Tuesday's surge still has me stumped!

All of a sudden, 2, 3, 5 and 10m orders were hitting the sellers at market..and interestingly, the VWAP ended up at 3.36...current support?

Here are the volumes per level for last Tuesday...

price volume
2.7 1.29m
2.8 6.73m
2.9 5.88m
3.0 4.51m
3.1 5.35m
3.2 29.19m *
3.3 32.87m *
3.4 8.18m
3.5 31.12m *
3.6 29.52m *
3.7 7.16m
3.8 7.08m

I have also looked at the volumes traded at each level over the last three trading days...just about all of the big buyers are are currently under water, which in my books, virtually rules out a pump and dump scenario.

Now comes the conspiracy theory...

I suspect some kind of event took place behind the scenes last Tuesday...good enough that those in the know were not concerned about trying to slowly accumulate shares at a better price...anyone watching would have noticed the sense or urgency in their buying.

Before I am accused of ramping, let me make it clear that I am not holding any shares...yet...but will most likely enter today if/when the time is right.

I do hold a few options however, which were bought yesterday with spare change...just in case...but frankly, I really don't expect to make money on them.

Cheers!