RBL recent SP rise, page-8

LT holder of RBL...observations on RBL trading patterns..

1- I agree that its trading pattern seems a bit erratic. Here is my guess on why...IMO and very open for debate

RBL usually starts on a strong note. This is probably by Investment Bank trading desk from their overnight positions with their ADR market making during NY hours. For example,if GS sold 20,000 RBL up 5 cents from the ASX close in NY,they will try to buy them back as quick as possible. This usually gives the stock a short term pop on the opening

2- Second part of the equation are the day traders/ algo traders who then emerge around 11 am. Given the inter day swings, RBL is a perfect stock to day trade for a few cents. This strategy seems to dominate between 11-3 pm. The strength and pickup in the volume seems to come at the end of the day, when the real buyers emerge. Over the past few months, the real buyers have been buying large parcels mid day....only to have the day traders slam the stock 15c lower. . No institutional trader wants to tell the fund manager they bought stock at say 5.75 when the stock closes at 5.50. To avoid that, you weight the bulk of your buying towards the end of the day.

These are casual observations and open to individual interpretation. Good luck to all shareholders