Isn't it a coincidence that the selling by the big players occurred precisely at the time Patto's came out with their speculative buy article and (if I remember correctly) Sime PR 'update' from the company.
At the time I remember thinking the selling didn't add up.
It's been a long, downward, slow bleed ever since.
First time I've come back and really checked PSY for a while and I can't believe the share price.
The only positive thing I can draw from this is that there hasn't been a capital raise as yet, and there hasn't been any negative announcements/updates.
There hand is being forced, so maybe that need for some type of commercial deal/JV may come along after all.
It would be bargain basement prices at these levels IF that was the case.
On the negative side, even these prices are not brining in buyers. Normally insiders and bargain hunters would be accumulating, but the volumes suggest this just isn't happening.
Milesy
PSY Price at posting:
5.2¢ Sentiment: None Disclosure: Not Held
