What was that? Some very strong sells today.
There seemed to be very committed sellers - not sure who they were. Could have been early 1/2 buyers taking profit, CR holders looking for 30/40% gain, or was that someone in the know? And the volume was quite good, over 27m shares traded. But in last 7/8 trading days, we have had very decent buys as well and with good volume - one day 37m, other 25m and many days high teens. So, not really significant the volume - like totally out of the way.
One obvious think that may come to most mind is that sell may have been deliberate by someone in the know. Probability is there - but sell for what? Our main play is yet to begin. Drilling is to start in mid-July at Quicksilver. Most of the major sp moving news is next 2 to 5 months. There might be some results around REE from before, but that is not the main play - at least that is what I gather, I could be wrong.
Here is the schedule -
But it surely made a dent to the smoothly going sp and to maybe confidence of few. First time we dipped below 5 in last 1 week or so, but we still managed to stay at 5. Personally picked up a few at 5.1 and then 4.9 - was in two minds, but thought will paly till it is around this zone. If it falls further, then I may think as price action is important for me as well. But I am hoping that with the big events coming up in July and August, its worth taking a punt for now. Please dyor as can be seen that its slightly volatile now. All the best.
(20min delay)