again you are making an assumption that the Aus investors actually can make a difference on the register?
they have mentioned 40% register is controlled by the germans
recent ann mentioned shortfall being taken up by germans & swiss,
join the dots. they most likely want to make some money here
plus management holdings
plus whatever other large parties that are close to management & control a good portion of the register (Swiss investors?)
you dont get much left
thats why they can move the stock when they want to, CONTROL.
Jun 09 mega pump. yes for wrong reasons but shows 1st sign of the stock's ability to move
July 10 to end of Sep, 3 months basing pattern, broke mid term downtrend in late Sep & she was off.
I remember that run so well coz I was about to buy one of the options at 0.4c before it really took off, but had funds tied up elsewhere
this time same pattern, CR done, basing pattern since Jan, good newsflow to come, germans taking the shortfalls plus they are the big investors on the register, 1 year long mid term downtrend resistance at 2.3-2.5c
a couple more confirmations she could be off again
1. break of downtrend, the most essential one
2. volume coming in, need those 5-10m volume days seen on the last big run
3. confirmation of germans & swiss taking shortfalls
still risky punt, but if the above confirmations come through, I will be more comfortable taking big positions
at the moment I certainly dont mind a small punt
PRW Price at posting:
2.1¢ Sentiment: Hold Disclosure: Not Held
