Just pondering why we have had retailers selling but no institutions of late (indeed institutions have been the main buyers) and if today has followed that trend. That could give us some guidance as to how the massive buying interest since the start of this run has played out.
Today has recorded dumping. However the c30m shares traded today represent c10% of those traded since the start of the run. What does that suggest? To my mind, it suggests that whilst those who opted to jump out either are out for good, are waiting for what they see as an appropriate time to get back in or like myself have opted to ride this at least until the next announcements on the basis that the company is committed to the drilling program, the CEO has so much history with the area and those same institutional investors will likely have taken the opportunity to buy more at these lower prices.
By my reading of things the retrace today has pulled the market into where the vast majority of shares were traded just days ago. So, I see market forces sheading those who either felt overcommitted, had stops hit, were waiting to see where the sp settled before reentering, were looking for guidance re the available clarification of what was announced or simply were spooked by the initial opening movements.
Personally, I do not see investors stampeding out the door nor do I see the drilling program in disarray. In fact, we have some emotional posts urging people to get out and a range of balanced posts by people who are clearly disappointed who are suggesting that these are very early days in a highly prospective area of the world where many eyes are paying attention. As always, I am drawn to posts that present well researched and supported points and thank those who in particular can explain some of the technical aspects.
No predictions, however I am ok with the relatively subdued volumes today despite the hit. esp.
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Last
0.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.201M |
Open | High | Low | Value | Volume |
0.1¢ | 0.1¢ | 0.1¢ | $1.612K | 1.611M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 1100000 | 0.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.2¢ | 66627053 | 52 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 600000 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.002 | 62738498 | 48 |
0.003 | 7970418 | 8 |
0.004 | 3755000 | 5 |
0.005 | 2500000 | 2 |
0.006 | 1300000 | 2 |
Last trade - 14.15pm 18/10/2024 (20 minute delay) ? |
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