Have been following the discussion re US price action.
Last month Average NVGN daily volume looks about 8000 shares (= 40k NRT) Friday it was 50k NVGN or 250k NRT.
Last two weeks average NRT volume about 25k.
NRT hasn't traded over 250k shares since October 3 2007 !!!
The US Friday trading WASN'T to dump NRT's in Oz on Monday!
For the first time in months the EMA20 crossed the 50, AND the NVGN SP closed over the EMA100 - hasn't been the case since Sept9, 2008.
If you look at the NVGN chart (for 6 months) you'll notice that most the volume days over 50k are blue candlesticks but in Oz there's near no bigger volume days and the tradings all over the place.
Personally I suspect the US MM's know they can manipulate via the BOT with NRT on the ASX 'cause no one in Oz has any faith left in the management!
This is a true case of the Shepherd that called Wolf - yet Austin has consolidated his power base (via Reuckert), there's a new MSHL director in place (Ms Cann) who appears commercially savy, I can't see that either Austin nor Oppenheimer have sold one share - and short interest (via Nasdaq official data) shows short positions on both NVGN and MSHL are at their lowest levels for months and trending lower - in the case with NVGN with a quarter of an average days trading short = nothing!
A month on from the PXD trial ceasation announcement, the stock prices in the US are higher than the closing price on the day of the announcement - what does that tell you.
I know there's a heck of a lot of doubt amongst the ASX investors about NRT - and why shouldn't there be given the history.
But my money is saying - If it looks like an apple, smells like an apple, feels like an apple - it probably is one so I'm going to have a bite!
Either you believe in the idea that science sometimes works and the possibility of a major breakthrough in the treatment of cancer - or the world could still be considered flat.
Perhaps their science is flawed - all the previous indications are that it isn't - however they do seem to have screwed up their FDA based trialling rather than the science itself.
Isn't it hard to undo years of doubt and setbacks - so much so that when a trend change COULD have been signalled for NVGN Fri - we automatically look for signs of manipulation.
We seem to have been paddling against the current for so long and going backwards all the time that the day we start to turn around and are sideways to the current but appear to be going forwards we still doubt the direction we're going.
It'll take a day or two to confirm any real change - but IMO the signals are all there slapping us round the chops like the proverbial wet kipper.
Good luck to all patient longs and many kind regards.
NRT Price at posting:
46.3¢ Sentiment: LT Buy Disclosure: Held
