i agree bitzer,my honest opinion has been that the SP has been...

i agree bitzer,

my honest opinion has been that the SP has been supressed to date, ofcourse its easy to supress a SP with all the rumours surrounding AXM and all the unkowns.
There are a number of reasons as to why this would happen however accumulation would have to be high on the list.

One thing is for certain those who took part in the placement didn't want to pump the price up and dump out some holdings before buying cheaper in the rights, they certainly had the power to and its happened soo many times before (with other stocks) and i admit i thought it was a given here too but this is a new kettle of fish for me the way its panned out.
But i think its fair to say the underwritters certainly did not want out they are happy taking as many as possible and that to me is comforting.


My thoughts on today though was an intial trigger of stop losses, as soon as that 18c got hit 2million got dumped from offscreen straight away followed by a further run as the SP dropped lower, amoungst todays trading would of also been holders who have had enough and just wanted out, i didn't expect todays events (ie a drop to 17).

I now turn to what tommorrow brings for some further indication of where we are at however like i said earlier with warrants next week it may trade below that floor price (23c) till then.

will wait and see
Davo