Let me just speculate for a mo more likely summarise me old boy experienced x 199 prov thoughts about today trader fund manager 25?yrs thoughts remember only surmise this is whats going on - My theory is that the trader unidentified” house” yet until wednesday say by the register saw an opportunity for a quick trading buck or few
say hes she guessing that say 1/3 at least of retailers taking up rights at 44c will be flippers immediately even for a small profitSo sell it now aggressively to elicit volume via a program trading function and then try to act like them for say $1m worth right now before they have the opportunity in their register for an on market sale and realisation of quick profit easy as trisk free profit as the stock hits their accounts or is in their portfolio. The trader selling down from 60c plus can just sit back for a week or two and when issued stock hits retailers pick them up at leisure With rights issue coming those current retail holders could likely be less inclined , if at all ,on average say to buy in market before So, and accordingly, one should expect a reduced market resistance to an aggressive sale down . That clearly reinforced and resistance diminished by the published fact that there are not many active longer term insto holdersBut a lot of small holders getting rights presents to flick out
RCE Price at posting:
49.0¢ Sentiment: Buy Disclosure: Held
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