I'm looking at this drop from every angle I can think of...never going to understand Mr Market...sigh
First I see that buying volume higher than selling meaning that SP should head North...but it didn't...and yet when I look at course of sales clear that sellers are capitulating into the lower lines. Then I look at volume...we're not slacking there...but momentum downwards...on back of 2 really nice anns.Not seeing obvious HFT or centrepoint trading.
Only thing I can conclude (and if anyone can detect the folly of my analysis please educate/correct me...always) is that someone is dripping parcels into the sell side driving SP down and picking up bigger packages on the now repressed SP. Unless there's funny buggers going on with Chi-x...don't have access to the dark side unfortunately.
If I'm right...we need volume/new blood. Presuming that longs ate pretty tapped out and given time of year those that have high average buy ins are thinking do I take the tax break?
If I'm correct...this is a golden buy opportunity for those with spare dosh...but from sounds of it most are tapped out. Or maybe throw some of DT play in but I would have thought they would have been long gone in the 8s...supported by the lack of apparent downramping recently.
Bit taken aback by today's action teally but there's a lot of moaning on the ASX today. Hreat thing is if you look at the lines one or two strong buys throws us back to a tiny wall at 8c...then we get that lovely big spread above that...
Please Mr Big...if you're out there..havn't you accumulated enough? ...running out of vas here dude!
Sigggh
(20min delay)