The only problem with your theory caketin is that the bid was placed with only 1 hour of trading left. If it was an intentional strategy to 'test the stamina of the registry' (nice description by the way) I would think it would have been done early in the day to give those overcome with fear a wide window of opportunity to jump into the bid.
Another big down day on Friday night. Will be interesting to see if the bid remains next week and how those hovering around (mostly off screen) respond. I will be surprised if it get taken out though, the sellers have really thinned and it's a big bid. The bid is right on the support line for PGC I think (perhaps you could comment with your technical analysis skills caketin?). Its fate may determine the direction in the short term at least.
PGC Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
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