What the hell is going on here!!!
Only 2 weeks ago I said to my wife that I think next time Phoslock goes up that it might get to 80c in a hurry. I didn't mean quite this much of a hurry.
I have held IMH/PHK/PET shares from day dot and added to them over the years. I am a major share holder and for many years I was in the top 20 holders. Since then I have been diluted out of that position (many of you may remember my griping over this constant dilution) I have also sold some shares out of necessity. I have never lost faith and this recent vindication is very satisfying (comforting) to say the least.
I would be one very nervous investor (I know many people will say I'm insane but all my eggs are in one basket) if I had not sat down and devised an exit strategy. (I say "exit" but really it is just a profit taking, risk management strategy, that leaves me with a very substantial holding no matter how high the price gets) I bought these shares way back when, because I believed that this was a multi billion dollar idea and I have not ever changed that assessment. As per my strategy, I have sold 100K worth of shares over the last 2 weeks but my remaining holding has increased more than 500K.
Back to my first comment though. WHAT THE HELL? I have never seen a stock behave like this. The last 7 trading days have gone like this;
·4.15%
·22.22%
·4.55%
·11.3%
·0%
·6.25%
·16.18%
That’s a total of 83.72% over 7 trading days. All blue sky. Record close after record close. Not in one big hit but on sustained and very heavy buying pressure. Massive volume (By a long long way the highest volume in the company’s history, almost 6% of issued shares changed hands over 7 days) and very persistent and consistent price increases.
Who is buying and why?
Is it one buyer, several or many?
Does someone (or a number of people) know something or is this speculation?
Are we currently being re-rated to a Billion dollar company based on relatively near term and fairly certain prospects?
Where does it stop? (or take a breather) Are we simply marching straight to $1 or more?
Can any of you chartists out there put up anything comparable to this?
Why has the ASX not asked the standard “please explain” question when prices and volumes go up like this?
Will the price rise be backed up with even better news that makes the rise seem justified or even too small?
So many questions.... Any thoughts???
(20min delay)