IMO,
Yes there is some manipulation. It's evident in the micro second duration responses to bids and asks in both daily auctions. Whether that manipulation is coming from one of our large holders is entirely more open to debate. There are plenty of funds that play these games on all stocks as well. Andy's comment earlier about past actions was accurate though. Appian have also been known to do a bit of "active" holding. However, tiny volumes are involved and seems the headless chooks would have more impact.
Low copper price macro etc is having some impact as well...whether there is a genuine surplus is also open to debate. The copper price seems to be fluctuating wildly on big trading volume trying to predict a surplus but that doesn't make it real.
I also wouldn't rule out a healthy break in the other direction for copper or AVB in the 4th quarter.
Like our old mate Warren Buffet says, "Investing is the process of the patient taking money from the impatient" or words to that effect.
Add to My Watchlist
What is My Watchlist?