You would think if the SP was falling on known bad news or suspected bad news that the OBs would be trashed at an accelerating rate.
There are 137mn OBs in existence and they are notable for the lack of sellers, surely holders of those OBs would be queuing up to off-load while they still can and we would see 10s of millions being offered in the sell depth at ever lower prices.
Yet quite the opposite is happening over the past few days, the OBs are being snapped up off the offer by those who are not prepared to take the risk of waiting in the bid queue to save a pip or two and potentially missing the upside.
The OBs seem to be leading the way over the past week or so.
EB
MNE Price at posting:
2.3¢ Sentiment: ST Buy Disclosure: Held
