bargain, page-6

Hi Dknow,
I am not negative to PCL, I have been invested with them to some level since 2004, this is the first time I have had zero shares in that time.
I have been selling at higher levels and re entering lower over that time. I may even re enter soon.
I also agree with all your points to some degree.
The only point I am making is that someone, a corporate partner, has been trying to support the price with minimal purchases of shares.
Since 10c large bids have been placed just below the bid price to discourage sellers.
When some large selling has hit the bid these shares have disappeared.
Once the selling has stopped the price is pushed back up on low vol and these large parcels have again appeared below the bid.
This just discourages sellers and also stops large drops in price without having to buy many shares.
This cycle just repeats itself until there is some good news and real buyers arrive.
But it keeps going lower because there is no good news, yet anyway.
But today there was a difference, the support of 5mil shares was put right at the bid of 5.2c, why?
Do they think the sellers have exhausted themselves?
Is this the min level they have promised to hold it at?
Is this the min level they need to keep the avg price and the perception at a level to conduct a successful raising?
Do they need to keep the price at a min level in regard to takeover or joint venture interest?
I do not know why, but IMO, it is definately not a large investor building a position at the lowest poss price.
Whoever it is, is not doing it out of the kindness of there heart.
BTW 30 mil isn't much in this business with 3 joint ventures in Kenya and also their blocks in Namibia.
Good luck all
I bet the price will be up at least 1c by the end of next week on low vol.