As I stated earlier, Bank of New York will continue to get demand in the US and need to buy shares on the ASX to deliver to them. The Australian shares will get less and less and force the share price up.
Remember those 7m shares were from trading prior to Friday night. We all know the volume on Friday night was over 180m shares equivalent, so it’s quite possible they will need to buy another 5m plus shares over the next few days.
The market maker needs to deliver within a few days to the investor/shareholder. If the Aussie shareholders behave and not panic the price will be in the 40s this week. The market maker may try to keep it down so it doesn’t lose too much money.Let the battle continue.
As I stated earlier, Bank of New York will continue to get...
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