With under $1500 in trades for the day so far, I wouldn't call it strong support (yet). Perhaps its the calm in the eye of the cyclone.
The announcement from the other day, is more akin to a rabbit having a spotlight shone on it, the rabbit initially becomes frightened, but then freezes, its instincts are to then stay still until it can figure out whether its in danger or not.
Compared to valuations of Moly Mines, DTM seems cheap, but the devil is in the detail, Moly also has iron ore mining going on close by, which changes its overall valuation.
Day traders need news to trade on and the recent announcement doesn't seem to give any suggestions that there will be any short term company making announcements. This doesn't mean that they won't happen in the medium to long term.
Add to that mix option holders who recently forked out as much as 7.4c an option, on reasonably large volumes, then this means that there are a lot of people out there at the moment with their fingers crossed.
I'm not surprised our little pet rabbit is currently sitting still
DTM Price at posting:
12.5¢ Sentiment: None Disclosure: Held
