machinations of the market

What an interesting day! An understatement I know, but I never cease to be intrigued by how things play out on the stock market.

All of us here who have faith in the extensive research done on PEN by the folks far more gifted than myself, have almost universally been saying, it's not a case of IF, but WHEN insofar as the share price rising.

But that said, today's action struck me as even more interesting than usual.

Solid interest pre-open with a starting price this morning of 5.4c. This quickly moved along to 5.7c, but as the morning went on, whilst the volume continued, the steam went out of the upward trend and for a brief period we went back to 5.3c. (Oh well - thought it might be better, but as everyone keeps telling me, Mr Market knows best:)

We then moved back up to 5.5c and saw multiple trades at that price for almost two hours, before moving into regular trades at 5.6c, at which point in time I headed into Northbrigde with friends for lunch. (About 12.20 Perth Time) (OK - a bit more solid interest - hope when I return we will still be at 5.6c or maybe even 5.7c)

Now come home to see another 50million shares traded (126million total) and a closing price of 6cents, with total trades for the day a staggering 976!

Just read through all the posts since I left home and the one from Malcolm was of particular interest.

Malcolm put up the Hartleys Report last night onto the thread but told us this arvo that it had been out since early yesterday morning, so as Malcolm said - "it had the whole of Tuesday to be noticed".

I'm with you on this one Malcolm. There appears a sound logic to say that more positive news is very imminent.

It stands to reason Malcolm is on to something here. If folks knew about the Hartleys report yesterday morning and the share price didn't really move until today, but then dropped back halfway through today, the significant rush for shares over the final hour of trading would tend to indicate that more good news is on the way.

Might be talking total codswallop (it wouldn't be the first time), but gee whiz, on the basis of the above, I reckon a solid case can be made to say that there's more news coming this week.

Without being greedy, perhaps a little Billy Idol - With A Rebel Yell, He Cried More, More, More would be an appropriate tune to hum along to.

Anyway, today was a VERY Good Day. Hope there are plenty more for us all.

Regards
RM