Hi Guys, I am not currently holding PNA but have been a holder and watching for some time for an opportunity.
An observation I would make is the overlay chart of PNA and OZL although not identical are very similar.
Although, there are many in a similar downtrend.
I would suggest there may be several reasons for the price fall, it doesnt take an einstien to figure this out, and I know there are some good brains here also, but.
A couple of scenarios that may follow are, 1. It may be just copper price and sentiment, you've already discussed this one. 2. A fund or funds selling down for various reasons, already discussed also. 3. A possibility, as with OZL, when you are watching several stocks on a constant/daily basis as I am, I noticed a trading pattern with OZL that led to a Substantial holding being taken by Morgan Stanley, probably on behalf of a "Chinese" stakeholder.
You dont know this is the case, but it was obvious when the notice came through with the buys and sells listed.
The pattern is very similar here, and although I'm only guessing , it (could) be what may unfold here also.
I definately dont want to start any balls rolling but this is what I notice, If some one has enough dollars and wants to accumulate they can influence the trading on any given day, particularly when there is a big up or down day influenced by the DOW or commodities fluctuations.
They can churn the stock as happened at OZL and sell down hard to get the ball rolling and sell and accumulate on days like this. They started at around two dollars on OZL and finished buying around fifty five cents, selling down and buying as they went to suit the conditions.
With conditions like this it is an ideal time for predators to take a stake and it may be there is more than one or if they do it right and keep below the limits they do not show up.
Its extremely hard to tell whats happening, all the usual things accumulation, margin, selloff etc, but dont be surprised if a substantial shareholder notice pops up.
Im not trying to be a smart@rse but I am looking for answers.
Regards?Rob.
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