After some deep thought and referring back to the days trade yesterday, we seen really solid buying continuing through the day. I took notice of the last hours trade more particularly, imo we weren't going to chew through the big sell ques in 9.9c,10c,10.5c barrier by the end of the day.
To my shock we wiped 9.9c,10c,10.5,11c only to settle at 10.5c once the after hours auction finished. This brings me to my point, as we know there is always big boys in the know of certain things.
The TH for a CR would imo already been knowledge amongst the big boys behind our buying, whether it be hess or whoever. Now would they of been rushing to buy up as many shares towards the end of the day if they knew we were getting a run of the mill TH with CR, which normally once lifted the SP gets hammered down to much lower levels, they would be risking significant losses..
IMO if we were to get shafted with a similar CR as the past, we would of seen a much more subdued fridays trade and probably even a red day with bigger guys reducing holdings to prepare for the certain drop in SP. We seen the complete opposite which leads me to believe we may have a positive type CR to look forward to, whether it be a Major taking a significant stake L/T or institution wanting a large position slightly lower or maybe even higher than current SP!
The big frenzy buying is what has given me these thoughts that many were taking positions to prepare for a rise after TH is lifted....
All IMO of course i don't claim fact or knowledge, just sharing my thoughts with you guys.
What do you think??
CTP Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
