if you count the $166 sale at 4.6c then yes, technically correct,
but it remains that an insto is exiting, and i will be trying to get a top 20 to ascertain how much they have left, mind you, that will be several days ago,,,and maybe we are best to wait a week, until it settles, and then request it.
I will in the interim try and get an update, to be aware of perhaps how much they had left a few days ago, to know what might be left in their tanks.
Very obvious, when you see 100k parcels sold, and reloaded at 5c, the game was 4.9c yesterday, and then one or two today to 4.7,,,,
the fact that they are going lower, might suggest that its a clean up, and their tanks are almost dry, perhaps with a time constraint to exit, otherwise why not just sit at 5c ordlery, i mean, whats the diff bw 5c, 4.9c??
Yesterdays buyers at 4.9, and even todays at 5c, would happily continue to buy at these levels, so why just dump to 4.7??
idiotic.
But when you're an insto, and you dont really give a toss, and you've been told to exit by managment, then do you really care the diff bw 4.7 or 5.0? when you've taken a loss from 50c??
IMO, they would have wanted to see the bulk of their holding out at 5-6c, (by the observed sell down in 100k parcels over the last 2 weeks) and probably happy to route the dribble at what ever. Lets hope its a sign that they are near finished, and an operations update forthcoming, can put spilt milk on them.
MAE Price at posting:
4.6¢ Sentiment: Hold Disclosure: Held
