This is good stuff 4 SXY, have a read of the actual facts on AFR: 1 seller, multiple institutional buyers at 34 cents to 36 cents book exiting Sentinent's stake, that means there is plenty of appetite obviously for the stock from 34 cents to 36 cents and no real weakness to the downside from 34c.
Also notice the Chi-X and ASX arbitrage all day, Chi-X mainly used by instos has traded higher and has bids/ asks higher than ASX. IMHO that means that instos have the appetite, retail investors/ traders do not really have any clue and are information asymmetric on price discovery.
Should be at least 34 cents for the next wee while with perhaps trending to up to and perhaps sometimes beyond the 36c as mentioned by AFR but pls DYODD.
ORG, WPL, STO and OSH all traded up 2day perhaps unnecessarily. IMHO some in the market think Sentinent is going after one of ORG, WPL, STO and OSH as an opportunistic. If not, their SPs may fall right back.
