High Takeover Probability, page-20

On or about August 10 well over a million shares suddenly appeared in the offer stack. I remember the biggest offers were 200K at 45, 2000k at 46 and 500k at 50. I had a bite into the 45 cent offers (foolishly I might add) and the offer was immediately replenished back to make it an even 200K. This obviously was not the trading action of a mum n dad investor or day trader. This was a trading computer capping price at 44 and absorbing any momentum buying. After a "null" or slightly disappointing drill report and POG dropping, the SP was savaged. By the time the SP was in the low 30s the big offers disappeared from the stack.

Miraculously, now there's a mirror image of the August offer sheet with bids in the low 20s and teens. This really does seem to read like a cheap novel. First cap price. Wait. Smash price when conditions are right. Drive price down far lower than most could expect. Wait. Try soaking up any disaffected or panicky shareholders.