Hmmm,
I don't think this is a large seller dumping. Large holders have been approached asking whether they want to sell, they would not have a need to sell on market in this way.
Honest opionion is that there are conspiring factors.
One is that it is overwhelmingly tempting to take profits for many people who have seen 200, 300, 400 or even 500% rises. Quite frankly I have been stunned week after week we didn't see it sooner.
That was probably because Dattels was in heavy buy mode counteracting the sellers who were there.
Now, Dattels may well have decided he has enough and we are at the mercy of the normal balance of buyers and sellers.
Another factor is that they have the long weekend coming up, they have huge rises in their pocket already and they are thinking that other stocks may have a greater upside.
So be it. The inevitable is happening. The tiny free-float is changing hands, there is a changing of the guard in the small end of town.
Get it done, let it flush the system out and let's get back to business.
Everyone will be happy. The sellers are happy with their profits, the buyers are happy because they are in at a cheaper price and I am happy because that overhang of small holders with itchy trigger fingers is lessened.
To me and my fellow long termers, Rossing South hasn't changed one iota, the majors are still negotiating with the big boys (as NWT told in those news reports) and the tiny percentage of shares traded back and forth between the little guys will keep changing hands until the company is taken over.
BTW, the buy side was thin, it didn't take many shares sold to trigger a bunch of stops down the line. Those stops will have caused other stops to be triggered even further down.
I am pretty sure there will be some large buys coming up and I would not be surprised if they want in before the close of trade today.
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