Today's volume - down to 27m (since yesterday's 43m) was most likely buying by accumulators from traders taking S/T profits, after 4 consecutive days of candlesticks tracking upward ALONG a steeply rising upper Bollie band. Compile your own 6-month Daily CANDLES chart with an EMA9, EMA13, EMA20 and a Bollie Band indicator (20,3) & you'll see what I mean.
Such a rising trend rarely runs for more than 3 days without a retrace - which even occurred in the Oppies (IVZOA) today, where IMO because of their low liquidity, there's most likely only 1 shorter trading these and borrowing from his other account. The single buy order for 250,000 at 12 I believe is his too, as this bid has sat there unchanged for days, with every bid & offer at SP's above that getting traded in mostly small trade quantities.
As for blocks traded today at 7 different times, there were 4 (comprising 20+ trades per block) between 750,000 & 1m, + 3 others above 1m including 1 of 1.7m, so the heavies are still active?
Check it out for yourself over the next few days but be aware that once we get a "discovery" ANN then IMO these Oppies' trades will become as voluminous as the heads, given their leverage, and still 2 years 8 months to run till expiry.
IVZ Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
