Ann: Tesorito gold porphyry expands, page-170

I'd like to think today's action wasn't a leaky ship.

I looked at the trades last 10 mins before close and from what I saw the volume of 4.5m 10 mins before close went to something closer to 11.5m after the auction.

All of the following doesn't include cxa orders.

There appears to be 3 main sellers.

At 1553 someone dumped a parcel (can't be bothered to work the total) onto 74 buyers at 14.5c
Of the 74 buys 59 were crossed trades so it's safe to assume it was most likely a commsec trader getting out with the majority of those crossed trades on the smaller size and those that weren't crossed were larger 175k-319k.

This needs to be put into context as well.

Yesterday the ASX CRASHED!!

Anyone who trades contra and there are thousands out there that do (myself included at times) would have needed to have sold yesterday to avoid a settlement today.

They wouldn't have been able to do so.
That is enough to instill a bit of fear and panic today!!

Remember fear feeds on fear!

A minute later in the space of 3 seconds another 60 trades went through as someone/s dumped into the buying support at 14c.

Of those 60 trades non were crossed inhouse so I suspect a broking house executed these.
Bear in mind the recent cap raise at 14c so quite possibly someone who took stock in the placement protecting their capital....fair enough.

Then with less than 5 seconds to go before the auction settled a seller put in a sell for 1.6m at 11c.
(I have a screenshot of that) jumping everyone else.
Roughly 2.5m went through on the close.

Of the 59 trades in the auction only 10 were crossed trades so pretty confident assuming it was another broking house.
Further to that the old chestnut of one single share in the auction made the difference between a close of 13 and 13.5c. Another broking house trick!

So my take on this is that had the ASX not crashed yesterday yesterday and the commsec trader not panicked and sold out today essentially triggering a couple more large holders to fold and follow suit we wouldn't be here at 13c today.

Either that and I'm wrong and there has been a bad leak.
Would like to believe this isn't the case.

Bit of a ramble I know but seem to do my best theorising after a glass of red or two!!

Lastly as a side note last Wednesday a big seller in ADN belted the price from 19-19.5 down to 17.5c in one order, some 4-5m shares.
Today less than a week later it hit 30c so don't always assume a big seller has the inside scoop because that seller didn't.

Anyway ramble over!!