Originally $US8.78/10/0.7432
A massive turnover of 1,878,680 Nasdaq ADRS or 18,787,000 PBT shares-
I did mention yesterday that the US MM (Market makers) and foreigners would most likely buy in Aussie if they expected a rise at the Nasdaq and that would be a good reason for that price rise to 92 cents we had yesterday (not because of any ramping as Alpha tends to think):
_________________________________________
Subject re: pbt to take off in the states--?????
Posted 16/04/04 14:36 - 49 reads
Posted by stolwyk
Post #275482 - in reply to msg. #275457 - splitview
I don't think that the US cares about the daytraders here; but of course there is a delay before the trial will proceed.
What does happen though is that there is a much bigger base of long term investors there and their outlook is different than that of an Aussie daytrader.
So, as the Nasdaq shares are being sold in a greater quantity than is available, the US MM (Market Maker) has to buy these in Australia and this in turn can cause a price rise.
However, foreigners can buy in Australia as well and I suspect that they are doing it ahead of Nasdaq trading tonight.
And so could be the MM who hope to offload them tonight at better prices.
See what happens. There is always risk with any stock and I can only hope that buyer/sellers are grown up enough to blame themselves should they misinvest (at the top of a spike).
Gerry
+++++++++++++++++++++++++++++++++
The last time it went up by 50%. about 800,000 ADRS were traded.
Obviously, with that massive turn-over last night, shares were bought in advance in Aussie. And most likely the MM will need to further cover in Aussie on Monday.
Alpha, I hope you understand how the system works. Please don't play the blame game because it suits you.
Gerry
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