the market is buying. Another day were 50 million shares have traded and it's only just lunch time....
Steady on there..
The volume on its own does not indictate whether its buyers or sellers who are initiating the trades.
So I had a bit of a look at some of the trading. In the first six minutes today, 34% of the total volume for the day so far was done. It was all at the ask, ie. sellers accepting existing bids. In other words, the stock was being sold. Thrown out basically. Fortunately the 20 odd million shares were absorbed easily at only slightly lower price, so there is still plenty of confidence there.
Its worth noticing that most of the initial selling of 20m shares happened right on the open and before the 'freeze' received any publcitiy on HC.
However since then, things have settled down and there are now a mixture of sales at the bid and offer.
The storm has now passed. I've attached a snapshot of recent activity just for interest.
FMS Price at posting:
25.6¢ Sentiment: Hold Disclosure: Held
