Agree that over-leveraged retail holders have been stopped out and sold off in shares and CFD's where many hold as a derivative.
However you don't turn over 200m shares in 4 trading days from retail holders....There is genuine negativity around:
1) Ree Stocks have been hit hard lately. Molycorp is down 33% from over $9 to just on $6 in the last 5 trading days.
2) 'Fiscal Cliff' issues adding a high degree of negativity across the board, so our market follows the DOW down.
3) Short selling levels are averaging 25% of daily turnover over since Monday.
4) Increased stock dilution further weakens the SP.
Last time we hit 56c, the TOL was issued the next day...Today we don't have any 'know' positive announcements forthcoming so who knows if we've got further to fall.
This is the first time that I've seen such a high degree of selling with such high consistent volume over a number of days. It's not typical and it seems like something is in the wind. These events don't happen for no reason.
Considering 200m shares have been sold to institutions @ 75c and the same has been turned over since Monday, coincidence...who knows.
We're probably due for some genuine green days in the broad market next week and with the AGM on Tuesday, my money is on the SP going up rather than down next week.
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Agree that over-leveraged retail holders have been stopped out...
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Last
$7.34 |
Change
-0.260(3.42%) |
Mkt cap ! $6.860B |
Open | High | Low | Value | Volume |
$7.55 | $7.56 | $7.30 | $32.37M | 4.384M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 84497 | $7.34 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.35 | 23514 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 84497 | 7.340 |
1 | 2318 | 7.310 |
1 | 1720 | 7.290 |
5 | 15815 | 7.280 |
3 | 48516 | 7.270 |
Price($) | Vol. | No. |
---|---|---|
7.360 | 9683 | 1 |
7.370 | 9683 | 1 |
7.380 | 9683 | 1 |
7.400 | 9683 | 1 |
7.420 | 10955 | 2 |
Last trade - 16.10pm 14/11/2024 (20 minute delay) ? |
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