I believe retail are holding + buying strong. Broker data supports this theory - so good work to all holders! Commsec + openmarkets (selfwealth etc).
The 'big boys' are playing games, either to reduce holdings or to accumulate, or even to swing trade, we dont really know, it can be a combination of the 3 as there is more than 1 party involved - either way shares are swapping hands and big money is involved (over $1 million dollars traded daily).
One thing is clear: The SP would have fallen much further if we didnt have strong buying support to absorb those sellers - and this gives us a bullish sentiment which is really good.
We will be listed on the US market soon and that will bring new shareholders onboard and help minimize the volatility here. In fact they may start leading the way for the SP direction. Those sellers may have a change of mind once the SP starts trending up.
We have been trading sideways from 60c to 80c for a long time now. Accumulation has occurred by many big holders, its only a matter of time before the next break out passed the $1 mark. Thats my opinion, i think it'll be a fast big jump when least expected.
