FatTony I'll agree with you that things to get talked up here to fairy level, not a fan of it personally but regardless its good to see some enthusiasm as opposed to negativity.
In regards to your comments a few points to note -
1. The sp drops from a high of 27.5 on Friday to low of 22.5cps today (after they spud on Sat!).
They haven't even hit the first reservoir and all news is positive. The SP going down after spud happens all the time. A post I made a few weeks ago suggested IMHO most of the action will come in the final week or 2 of assessment. We're still only a few days into the campaign so its not surprising to see some intial uncertainty.
I guess further to that,technically the chart is not looking spectacular so traders could still be exiting looking for a cheaper entry. Support is pretty good though.
2. The MD is selling stock (albeit rather a minute amount compared to his 5Mil in reserves).
Nobody knows for certain that he is "selling". Off market trades could go anywhere, and it highly likely its gone to an account he's still associated with.
3. Single large sellers have come on board Monday and Tuesday (one seller over 1000000).
Have noticed some phantom offers appear however of significance, the daily volume over the last few days of negative closes has not been anywhere near sufficient to suggest the well is a duster or the like. Further to that they're nowhere near the primary target to make assumptions on it just yet.
4. Numerous posts about the sp hitting 30 on Monday and closing down (despite Dow being offline for July 4th)
LOL yes, I guess people can only speculate. Im standing by comments that most action will come later in the piece. If you see the SP edging up when they are nearing completion you can assume they've been successful, and vice versa!
Looking forward to the coming weeks.
CTP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
