Heres some facts to back up why were so positive on HNR.1)...

Heres some facts to back up why were so positive on HNR.

1) Results due very shortly from 3 different projects

2) Placement to Chinese investors by a company that is not producing shows great confidence

3) A good management that has been involved in stories like PLT and Fox Resources. Very good results in everything they have been involved in

Ive noticed the stupid bidding in the screen at times too, but you forget to mention that at for about two weeks, anything on offer between 45-50 was snapped up.

As for your "theory" the stock is in down trend, every technical indicator I can think of indicates this is clearly not the case. Clearly demonstrated by one of my favourite tools, multiple moving averages, with both the the short term averages and long term averages will spread indicating a strong trend.

Manipulative trading goes on in the market every day, but the short of it is, HNR is a company run by some very good people, has attracted overseas investment already, and has some results due from some highly prospective projects. Im more than happy to hold at these levels, and to top up again in the low 60's.