It is anyone's guess on what is really going on. My guess is that the accumulators and shorters are playing who blink first. It looked like the accumulators blinked first (good sign for DCN SP) and swallowed up the wall of 800K+ shares. If these accumulators are bigger sharks with deeper pockets than the shorters then one can expect the shorters are going to be in a lot of pain as the DCN SP is going to continue to march forward to the point when shorters will have to put up the white flags and start covering their shorts
I did notice that there was a continual buy orders @ 36c (when the 36.5c wall was there) and that is a good sign that there were active accumulators. I think the shorters may realise that they are on the wrong side of the bet on this merger and may want to cover their shorts in the coming days. Given the overnight slight improvement in gold price, Monday is probably going to be a positive day for DCN SP. Who knows, DCN SP may rally the whole of next week.
GLTA and DYOR.
DCN Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
