Another typical run for a stock which doesn't seem to hold much...

Another typical run for a stock which doesn't seem to hold much value.

I saw the ann and bought in at 1.5c, sold too early and miss out the boat, but still a decent profit. Reason is I don't think the run is warranted based upon "grab result". The prelim result is not something to cheer about.

I believe the run was probably initiated by those FDL holders who had made a fair chunk. It appears that the buy was somewhat occurring at simultaneously, whether it's deliberate or just pure luck it's an unknown. Those who saw a rising stock flashing in their trading screen jumped in, so the buying spree spreaded across like wild fire.

The drop from 5.8c to close of 3.3c suggested exhaustion, and buyer realising they overpaid. Today's VWAP is around 4c, so the trading should resume around that price in the range, give or take 1c.

This is another trading euphoria for day traders. Unlike KAL or FDL, this doesn't have any good potential, IMO. FDL will be something to look for as any ann will fire it off.

Also don't be fooled by huge buy side e.g. 4M buys etc during trading. If one is thinking of buying, why would you place such a large bid, rather than scooping up and buying in smaller parcel? Whenever I see large parcel I know that's something fishy.... this happens around 5.2c when there were a few large parcels, always very suspicious.

Have fun tomorrow, will try to trade the swing.

cheers JM