Have been since Friday...Even got 100k at...

Have been since Friday...

Even got 100k at 9.9c...amazing!

Forgetting all else, purely based on technical reference, it was clearly an exhausted sell-down...thr fruits of which we are seeing today.

Volumes are low...some may fear a low commitment recovery...I see it entirely differently.

So why the low volume?

I guess that's what happens when Duetsche Bank (fabb) are not selling down for the next placement...BECAUSE THAT FACILITY IS FINISHED!

They had sold some 26m shares this month (up to the middle of last week)...after which they received the final 5m share placement, taking their total shares acquired under this facility to some 30m shares.

With the dump we saw towards the end of last week, culminating on Friday...and in light of the low volumes and clearly unmolested trading activity today...my bet is Global are done!

Adding to the mix of course we have Opes Prime, who have been responsible for 10% of all trading in CVI this year...interesting to reflect on current trading in CVI given one of the markets biggest stock lenders (read short selling facilitator) has received an uppercut for being stupid.

I really do feel for those innocent types caught up in it all though.

Probably a few other "Opes Prime" types in CVI at the moment, but given recent "attitudes" to shorting such stock by the regulators and given the strength of the interest at 10c on the back of the dummy spit, I would suggest shorting activity in CVI is finally taking a long awaited rest.

Anyway, the dummy spit by the market last Friday has shaken most of the ultra-temorary clingons in my view...who are no doubt looking on the activity today, and realising they are facing a higher re-entry price...and now must endure a gradual realisation that we are seeing the first "natural market" in CVI for months.

Pretty soon, if not already, they will be questioning why they jumped.

The same reason for jumping however will likely keep them out in the interim...more than anything, loss of confidence...as such the market will likely be slow to catch on (perhaps rightly cautious), but catch on it will.

The beauty here is that at current levels, we have mostly investors and patient types entering.

News wise, I expect Catabola results next, although hard to determine likely timing given the Angola influenceand. If not, we may well hear something on the Diamond front (financing?)...then eventually news perhaps of the refinery, which will ultimately (for me) flag the finalisation of the offshore permits.


Given all that has taken place, I would like to think Smyth will hit us with a far more definitive announcement on the oil than we have seen in the past...so that once and for all the "noise" from the Type-II Parvo-Misinformation Virus, that infects the threads from time to time, can finally get their dose of penicillin.

Cheers!