Dollarfast
The share holders certainly have indicated their complete lack of confidence in this stock since 1/12/09. The volumes while still low are higher than normal for this stock. All movement is downward.
We can talk about Christmas, the financial year, the holiday period, the probability that little will happen for months and many other factors forever. If the share holders believed the SA tenement represented the potential that the company has vigorously suggested they simply would not be selling at this stage. Particularly based on the purported overwhelming recent vote. It simply does not make sense to assume this is natural movement.
This morning the stock opened at $0.019 and then dropped to $0.018. At 1140 the stock moved back up to $0.019. Immediately after this an ask order was placed for $0.018 and the bid orders dropped back to $0.017. This stopped the upward momentum and stalled the market. As I have mentioned previously this happens often with this stock. I agree with your “dummy bids” terminology in the sense that many of the movements give the distinct appearance of having the purpose of manipulating the market rather than being legitimate movements.
To sell during this process an investor falls prey to the individuals controlling the market. They simply accumulate this stock at greatly deflated value. To hold during this process the investor runs the risk of further devaluation.
At some stage the sp must be forced back up to maintain any share holder confidence whatsoever however this is unlikely until as many outstanding shares as possible have been accumulated.
I don’t know that I would pay too much attention to orders on either side of the board with respect to lifelines. Movements are dynamic and too volatile. They will change to suit the desired outcome. However it is obvious the total volumes indicate a far stronger desire to sell than to buy.
Keep watching for the announcement regarding the remaining drill holes. The company is in the very desirable position of being able to control direction and volume with this announcement. Serious consideration should be given to the timing and the fact that the results have been released in 2 stages.
I hope your decision has a good result.
Keep in touch. Drop me an e-mail
Lloyd
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Last
0.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $10.32M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 2335522 | 0.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.9¢ | 895340 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 2335522 | 0.007 |
7 | 2054460 | 0.006 |
6 | 4166812 | 0.005 |
14 | 16890239 | 0.004 |
5 | 18433656 | 0.003 |
Price($) | Vol. | No. |
---|---|---|
0.009 | 895340 | 2 |
0.010 | 566756 | 3 |
0.012 | 99840 | 1 |
0.014 | 1000000 | 1 |
0.025 | 100000 | 1 |
Last trade - 16.12pm 06/09/2024 (20 minute delay) ? |
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