Instos don't buy stocks to keep them down they buy and average up as it helps their performance. The only time this doesn't hold is when it is a big cap and a price goes up increasing relative weightings forcing selling.
This could occur with a little company like RED as well but in reality there are not enough big holders for their holding in RED to be causing a weighting issue. Not unless it was a very small fund.
RED will go up on news flow and price of gold. QE3 is around the corner and we have traded our way through the 1900 parabolic.
Don't read too much into daily movements.
Instos don't buy stocks to keep them down they buy and average...
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Last
32.5¢ |
Change
-0.005(1.52%) |
Mkt cap ! $2.210B | |||
| Open | High | Low | Value | Volume |
| 32.5¢ | 33.0¢ | 31.8¢ | $5.514M | 17.03M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 75 | 1773389 | 32.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.5¢ | 757891 | 87 |
View Market Depth
| Last trade - 13.59pm 16/09/2024 (20 minute delay) ? |
| RED (ASX) Chart |