major sellers, page-34

jayinaussie,

Sentiment is in the eyes of the beholder!

You take the price action over the past 2 days and direct it towards a negative reaction against the Director selling.

I look at the very low volume today and see a few people throwing the baby out with the bath water.

The general spec market is a NO-buy zone at the moment as the majority of people sit on the sidelines and await for market direction. ADO was also under pressure from the technical trading aspect - (GAP's, Retrace levels, Support Levels and many more).

Now I will give you my sentiment based on what I have seen today.
1. Buyers came from off the screen and hit sizeable offers +ve sign
2. ADO did not completely tank today - 4.5 was tested numerous times and held +ve sign
3. Very low volume less than 19million traded +ve
4. Avg parcel sold approx $4k = small fry selling +ve

For the first time I am seeing sizeable accumulators take out the flee's.

Anyway that's the way I see it at the moment and hence my sentiment is different to yours.

Markets pending I would anticipate an accumulation up to 6.5-7 within the next week and another breakout above 7 soon thereafter possibly on news.

IMO
DYOR