Apart from being Aprl Fools day, today is the beginning of a new...

Apart from being Aprl Fools day, today is the beginning of a new quarter for the fund managers. Since Alexium's recent elevation into the ASX300 I would like to think it may bring renewed focus from the fund managers as they look at positioning their portfolios for the approaching important mid calender year results for some and financial year results for others.

The key to Alexiums SP trajectory IMO relies on institutional investment support for the medium to long term rather than just institutional trading turnover, hence the visit by the AJX management team. The recent broker figures published suggest recent price movements could be more about trading churn, e.g. the Commsec numbers..

Interestingly the net volume turnover for last week from the broker report gels with the ASX volumes as they appear in the chart data so the broker report looks to be complete.

It is noticeable that the buy volume has dropped overnight partly due to a now removed 100K buy order which was sitting near the bottom of the buy queue for a while, probably a dummy all along but it confirms the recent softening of the SP.

The volume is winding down over the past couple of weeks so we may be near a bottom which often coincides with falling buying interest which we have. Around 63 cents is my best guess at the moment which coincides with the long term 50% retrace level.