mitis, I think we got a sniff of the game this afternoon. The...

mitis,

I think we got a sniff of the game this afternoon. The capper at .45 was forced to retreat or lose 400k of stock. Up until now they;ve been able to play that game, but it is high risk trying to stampede people into .435 while risking getting wiped out at .45 -- the moment the buyers stepped up, the seller stepped out.

The 100k oppies taken out at .30, which at the time was an over the odds buy also indicates how these will trade ... hard to get a parcel together and although the leverage is less now they look like being well in the money come may 31. I suspect any larger parcels within a .15-20 strike range will get snaffled by big boys who will bank until the expiry. (disclaimer: I might hold a few of these)

Rarely have I seen so many broker reports on a junior screaming buy with a 100% upside. Market yet to catch on, although it may not take so long for the mooted M&A activity to materialise ... then what price?

It surely cannot stay at these levels long.