I say "apparent", because in my view much of it is orchestrated rounding-up of traders struggling with temporary money monagament (ie, t+3'ers), so perhaps not as "stupid" as one might hink.
They are the same accumulation games we saw on the recent rally to similar levels.
Buy 3, sell 1...rinse and repeat...over and over!
When looking at ALT, we need to realise the prize for many investors is to be found weeks and months from now, not this afternoon or tomorrow morning.
This tends to interfere with the expectations of traders...who time and time again are forced to sell when they would rather hold, to settle acounts.
On another issue...I had to laugh about the "aalue" expectations over time as quoted in the article...in my mind it is a classic, "low-comprehension" journalist's view of comments previously made by the Company about the strike price of the options.
The Company previously stated they expected the 4c options to be in the money by September this year, and the 8c options to be in the money by June 2013.
I suggest the journo has simply assigned these comments as a "quote" from the Company, not fully understanding what they meant.
I see this sort of lack of comprehension all the time, where news articles quote offical company correspondence out of context...more often than not because the comments they are quoting are beyond the capacities of the journo to understand.
Journo's these days are not what they used to be.
Cheers!
ALT Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
