pnoo, page-11

Looking at the time of the trade (10:51am), I'm guessing that the dump into 0.1c took place first and then a number of people have got nervous and put their sells in at 0.2c and 0.3c. (I feel this is a better scenario than the sell side building and building until finally someone gives out and sells into the 0.1c level).

PNO still looks to be holding up pretty well - closed at 1.3c today. I can't see any reason for a sudden loss of faith in the PNOOs. Probably that initial dump was some poor soul who needed funds and had to close out their position. It could even be a clever accumulator shaking the tree to build up the sell level at 0.2c. It would be nice if they line-wiped the lot on Monday (I can dream).

The PNOOs still have a couple of months to expiry so no panicking here for this old caveman. Normally "a couple of months until expiry" would make me a bit nervous but not when I consider what could play out for this company in that time-frame ..............