You think about it, why would anyone want to send the price down? you might say well its obvious so they can buy in really cheap, and if the spud is a wildcat or whatever, the share price soars.
But the further you go down, the more dangerous it gets for that guy with the big pockets, what seemed like a buying opportunity for him becomes a stampede as more and more people go to the exits in anticipation, of a duster, its a big gamble for him, and guys with big pockets don't gamble.
If anything its what someone said before, it could be a duster and usually when it is a duster, the smart money has exitted way before. They've got people on the ground looking at the spud, just a quick mobile call, from the drill worker " its looks pretty average mate", he pockets $10000 for his efforts, and Mr Big pockets gets out, before the news hits the headlines.
you also have to look at it from the big investors point of view as well. He too bought in at .50 but he bought over a million shares or maybe more. so selling now is a guaranteed profit, if its a duster he could lose heaps, so its better for him to take profits.
It still is market forces, sellers wanting to get out.
maybe its just our definitions are wrong,
HDR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
