Even if it is true what you are saying re FMG, their average daily volume is in the 10's of millions of shares - i.e. they have ample liquidity for funds to play that game.
NEN trades at most 1M shares a day on average - about $300k in value. Do you really think anyone is playing that game??? It really isn't worth their while to save a few cents per share. NEN has one simple problem at the moment - no buyers! That will change of course on a good announcement.
If you remember - there was quite a bit of volume a month or two ago (and the price rallied accordingly). That (IN MY OPINION!) is when the people who wanted to get set pre-drilling did so. Now they are just sitting and waiting.....as are we all.
I do agree there is clearly a seller at these prices - but it will be portfolio management or redemptions or something unrelated to any major conspiracy...
NEN Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
