Hi allAnyone else think we are seeing accumulation taking place...

Hi all

Anyone else think we are seeing accumulation taking place with BPO? I am constantly getting the impression that accumulation of this stock is taking place.

I have been looking at this closely and every time sellers look like they will succeed in pushing prices significantly below the 10c mark, buyers appear out of nowhere at the 10c level.

Today is a perfect example. Last night we closed with the highest buyer in the MD at 9.9c. Shortly after 8am 60K at 10c appeared, and depth increased throughout the day and in the end, there is over 400K at 10c to be bought. This type of price action has been occurring for the last couple of weeks.

Forgetting about the fundamentals for a moment, to me it appears that there is a serious amount of accumulation going on. At first I thought it was just a short lived attempt to keep prices above 10c, but now I am convinced that serious buying is occurring and higher prices will be seen. Small parcels of around 50K-100K are being snapped up continuously, and has been occurring for weeks.

It seems that the smart money is getting in board and positioning themselves for some increased prices. Furthermore, if you look at what happened when the Hep C announcement came out and 22m shares changed hands, most of that was at the 14-15c level. When price retreated, the MD on the sell side at these price levels were quite high (ie 1m+ at 15c, and 800K at 14 and 14.5). If you take a look now, this has decreased substantially. It could be the classic accumulation sign where the uninformed public are selling to the knowledgeable professionals.

Just my thoughts
Time will tell...

Livas1