Combined with the onmarket action looks like someone could emerge with a 6 - 7 million stake?? If this occurs and it can be proven they are a client of JP Morgan its one of the dogyiest manipulation exercises I have seen.....With a stock as thin as CRK surely they cannot be that rogue??
I did not see this transaction reported on market on the 15th for 3.6mil odd shares. Did anyone?? - I cannot get historic course of sales..If it was a change of owner it has to be reported through the ASX in course of sales as a SP XT.
If its an off-market transfer of shares that does not change the relevant interest(ie transfer to another JP Morgan company) it does not have to be reported...
Unusual action normally always indicates something is happening either way. The risk being JP Morgan holding the power - use it for all its worth for the benefit of a their client potentially CRK could be a takeover at $1 and there being very little resistance..
I would love to have very deep pockets and just keep accumulating at these levels as low hanging fruit is not a strong enough analogy for CRK at these levels.
Interestingly this announcement was aftermarket today - we could see a very quick rebound to 80c plus off the back of the assumption the selling is finished for the time being (or back to the old liquidity levels of around $20k shares traded per day..)
CRK Price at posting:
48.3¢ Sentiment: Buy Disclosure: Held