Easymoney, There are a few very good clues in your observations you should think about. You also have to remember that there are a myriad of investing time horizons here.
What may be good for someone that's happy to sit and accumulate for a pay day 6yrs hence may be a dreadful outcome for someone swing trading or with a time frame measured in days or weeks.
Why no rocket under the SP? Well, we had the simultaneous announcement securing the funding strategy, to use the term Vintage used, and also a massive dilution along with it. Perhaps one mitigated the other?
The other thing that has not escaped me nor some others I liaise with is the obvious SP capping each time there's an upthrust. This past week was a good example. A few small timers daytrading the pips....I think not. The stacking of the sell side in instantaneous concert with the buying pressure as it changes. Mum and Dad can't do that from their home PC.
The time will come where the vested interests let the brakes off for sure, and we're also going to see times where external factors like the Japanese elections, Fiscal Cliff, EU wobblies, U prices etc etc move the market one way or the next.
I'd suggest that there would be many fewer investors in PEN today if they thought the best that would come is an 8c SP for Gus to make his performance bonus. We're all here for a much better outcome than that.
PEN Price at posting:
4.1¢ Sentiment: LT Buy Disclosure: Held
