Where is the evidence of large-scale selling prior to the announcement?
The list of trades on Stockness shows under 50000 shares being sold between 11.00 am and 12 noon today,at 1.32/1.33.
According to the screenwatchers, a large sell order appeared briefly about that time but was then pulled.Perhaps that seller is now releasing the 300000 shares in smaller parcels.
But could it be that somebody entered the wrong figures? Or is it someone trying to flush out the nervous nellies? If it is the latter,then the strategy has worked perfectly.After all, the company is making money and does have cash in hand.It has announced a drilling program for later in the year and has indicated that the amount to be written off for drilling disappointments in China is less than what many pundits tipped.
I again ask,where is the evidence- however circumstantial- of large-scale insider selling today?
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