poh added to asx300, page-38

You are correct Hottod - yesterdays buying will not have been by the index funds. Index funds are exactly that - they follow the index and because of this the price that POH enters the index is on the closing price 16th March so IDEALLY every index fund would buy on the close of Friday 16th. But of course this can't happen as there will not be enough sellers to satisfy the demand so it comes down to a calculation by the fund on how long they think it will take to accumulate the amount they need as close to where they anticipate the price will close on the 16th.

Of course you would think that it would make sense to start buying now if you knew that this flow is coming and that may well be what a few other funds have done - but they aren't the index funds.... my wife used to be an index fund manager and you would be surprised how much trouble she got in for outperforming the index (let alone underperforming) because if you are doing that you are taking risks - you are being active and that is not an index managers mandates.

So we will see pressure from index buyers the closer we get to the 16th and also from speculators anticipating that flow but you are correct in saying that yesterdays buying was genuine and not really related to this news.

Why did we see this buying? Because after the last trial result this investment has been so derisked we all know we should be in the mid 20's by now but this seller has kept us capped....just looking at the chart you can see the pressure building as we wanted to pop thorugh 20 and now we have IMO we wont be stopping at this 21-21.5 level for more than a day....