Hi
@ThePasta"Can you or anyone else tell me how much more selling you anticipate into these levels?"The Million Dollar Question, hey! What's with the crazy trading on CGB and these single trader, $100's of K's, buys and sells ???
Here are some thoughts...you are welcome to agree or disagree.
1. With this new Renaissance in Trading, we are seeing, the age of the Stockmarket Social Media Influencers YOLO, who are now out in the open (spruiking/trolling) to knock out the big end of town (hedge funds/insto shorters) as recently seen with GME, AMC, Blackberry etc.
We are definitely in new trading territory and these guys are winning atm! Some would say, "about time!"2. This is not new, of course, but IMO, in the past, it was the spruikers who got the bulk of the press and/or criticism, and the dumpers/trolls stayed hidden and could easily deny any influence on trading behaviour. In fairness though, the regulators issued speeding tickets for excessive s.p. pumping and those same regulators were quieter on dumping action caused by shorters providing trolls/influencers happy plausible deniability.
All players are now trading openly, it appears!3. I do think some of the Wall Street play (enthusiasm)
"could be" washing over onto the ASX; so you would be a very brave person trying to make a call on trading volumes, frequency or length of time, at the moment.
4. CGB S.O.I.: As strange as this may sound, my observation of a possible upside to the trading behaviour is that it might, for the short or mid-term, work in favour of CGB's large S.O.I..
For the sake of this discussion, the large S.O.I. may, and I say "may" have possibly precipitated a more natural or steady share price movement, in conjunction with the frenetic pip trading that we have been witnessing recently. This seems to be leading to gentler climbs or falls with a stabilisation of the base price. I have also noticed that this "crazy" trading behaviour has actually shored up support lines beneath B.P. and created resistance walls above B.P. which may allow attrition to eventually do the job, in the absence of ann's. Newton's 3rd Law of Dynamics as seen in the repeating base price; for you science lovers, out there.
(IMO, of course!)
I do have further thoughts. For another post, at another time, perhaps.
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