G'day Footy, it's a great topic and it's difficult to keep it emotionless after a week that we've just seen.
Here's my thoughts and I hope I can word my post clearly.
I get absolutely sick to death when so many posters come on here crying manipulation and calling the ASX for everything. They are basically just sooking because the SP hasn't met the threads hype of a huge bull run and they're looking for something to blame. I do get the frustration but they're pointing the finger at the wrong symptoms as it's not manipulation, that is illegal and can be identified.
Let's look at another reason for how the SP can be moved in either direction.
On my platform I can have multiple watchlists therefore I break mine into sectors, Lithium stocks, Tech stocks, BIO stocks etc etc. Now I've just done a quick exercise on all my 14 BIO stocks. Here's the list in no particular order.
BIT DXB BOT 1.6 Bill
PTX RAC ACW 2.3 Bill
CHM CU6 PYC 4.5 Bill
EYE NEU IMU 7.3 Bill
PAA CSL
edit: sorry these won't format nicely.
Now the the 10 stocks on the left, don't even have 1 bill SOI in fact the 3 biggest MC's amongst those stocks being CSL NEU and CU6 are under 500mill!!!
The point to all of the above is that IMU has by a country mile the highest SOI amongst those on my watchlist, some others here may have other examples. By having such a dramatically high SOI, it is so easy for an insto to accumulate a fairly good position or distribute that position. If an Insto wanted to gain a strong position on either NEU or CU6 then watch the SP run a mile because there just isn't the amount of shares on the market to buy. So they tend to leave those stocks alone. But in IMU's case it's like bees to a honey pot and a quick search of IMU's CR history will reveal a busy schedule therefore they just rub their hands together in anticipation.
IMO this is the main reason why we see IMU's SP seemingly driven in certain directions. They had a ball with it in 2021 when Hopper did that raise at 30 cents to a specialist CR Insto known for liquidating the position quickly before moving onto the next one. There was a strong pump and the hype took the MC into the ASX 300 and then the ASX200 where the big boys had to take positions and the supply was provided by the 30 cent insto. Beautiful stuff and all legal and above board. Notice how all of us mug punters didn't mind it then? There weren't any cries of the SP being manipulated up!
Of course the next 2-3 years saw the reversal of that.
So Footy sorry, I won't put a number on where the bottom will be as there's no indicator for that (lets not start that war again), all I know is that when the sellers and soakers are finished it will reverse and the signals will be loud and clear. Until then get out of it's way and stand patiently on the sidewalk.
All just my opinion.
Yeah the BIO sector finished flat but man look at the last couple of weeks, that's really ugly. The entire BIO sector is being wacked. There is big money being removed from the sector.
Have a great week regardless.
Cheers.
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