Retail look like they are about to be taught an expensive lesson in market psychology. As holders will know to date nearly every spike has been heavily sold into by insto's, the expectation has been formed that this is how HZR performs and many I know have traded the spikes.
Keep in mind basically every Hazer announcement to date has simply presented another maybe avenue or incrementally reduced the risk of failure.
The binding agreement with MIN is not a maybe, it is a firm commitment to commercialize the process and a major step change in the direction of Hazer.
Since the adviser selling to fuel option conversion ceased there the broker data has presented something a little novel over the past few month for Hazer, we now have insto buyers taking stock from the hands of retail, these guys in general are not here to trade a few pips, this is likely to be supply that is locked away for some time, the other notable section of the data is that D2MX who were the largest net seller over several months clearly appear to be done. In short supply has dried up and will from here likely just be those who are looking to trade a spike.
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IMO Hazer trade from this point on will not be what we are used to so anyone considering a spike trade should double check their existing bias before making a move as the stage has clearly been reset
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(20min delay)