Well specland on the ASX is getting destroyed right now and...

Well specland on the ASX is getting destroyed right now and clearly not everyone can distinguish between the gems and the dogs.

There’s still lots of capping going on in the sell depth so considering the extremely weak micro cap market it’s hard to see this running anytime soon without a big contract win.

I’m seeing some healthy consolidation though where weak hands are amending down and selling out for a big loss. They see their risky dog stocks tanking and sell in fear probably the only quality stock with very little downside risk they have.

I must admit I never saw WSI retracing to 2 cents but I guess that’s just the result of Bell Potter selling, lack of investor interest and the weakest spec market since late 2018. Bell Potter and Hartleys are playing around with bids that were higher up amended down in the queue at 2 cents... let’s see how many more weak retail hands are willing to sell out down here.