4Bean, there is still a fair bit of liquidity after IOOF dumped 12 million shares which is still being felt in the SP IMO as traders have been playing with them.
When I bought in originally, the top 20 held around 70% of the stock. They raised another $10 mil (at 26c) or so which reduced this and then IOOF had an about-face and dumped them at a big loss because there was a tech "sell" sentiment worldwide from memory.
I think I saw Perennial buying a few days ago (which is IOOF) so this tells us MBE is back in favour with the funds. Lets have a real good look at the top 20 at June 30 and I'll bet the top 20 owns a lot more by % than June 30, 2014.
This will keep increasing as Thorpey delivers the beautiful numbers and the mums and dads keep offloading their small parcels at these levels which is what has been happening IMO last week with 4-5 million through each day. We saw $100K lots being bought in each trade which is unlikely to be mums and dads.
Holding nicely at 24c which is hopefully the new base until a new wave of funds has another bite like a big fish.
Remember the film JAWS>
MBE Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
