Howdy: When you say "And there was more demand than supply too. Does anyone have any insight on that?" I assume you are referring to the bid/ask on the market depth. For example, at the moment there are 5,590,200 buyers at .010 and 978,107 sellers at .011. My suggestion would be not to put too much credence in the market depth, which are sitting orders. These orders can be there for various reasons:
a. I really want to buy
b. I want to sell at a higher price, so I will put a big line at .010 so somebody jumps over me to .011
c. I'm trying to prop it up
d. I'm trying to make it look like there are many buyers
These buy orders can be pulled at any time. ASX has quidelines on this which you can find on the web. Orders have to be in the line for a certain period of time to be real. Keep an eye on it, as you will find more often than not, at the end of the day the orders are pulled.
Reality is the course of sales, which is what has really happened, not what might happen.
Large orders from institutions are rarely 'disclosed' - ie. sitting in the line. They are worked a bit at a time. However, it is debatable whether or not 5 million shares is a large order - for IDC that is only 50,000 dollars. For a stock that doesn't have much volume it is, for one that have lots of volume, it is not.
Anyway, hope that helps. All of course, just my opinion.
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