Sorry if you don't like my logic. Not having a go at you but rather offering an explanation as to what I think is happening.
As for the intraday high yesterday, well it was just that. Intraday highs are about as relevant as all time highs. They reflect what a single person did at a single moment in time and are rarely reflective of the concensus opinion which is what sets market prices ultimately. Remember that volatility is hugely exagerated in low volume turnover stocks where it only takes a few small trades to set the price.
Somebody may, or may not be recycling shares but what does it matter? They aren't your shares or mine so they can do whatever they want their theirs. What matters to people like me is that the company is in a strong position with good assets, enough cash to walk through this period and is progressing with turning potential into reality. I know that if they do this the value of the company will rise significantly.
When the market is no longer scared of parting with cash and we have more assets that are proven then our shares will be worth a lot more than they are now. This isn't guaranteed of course but then what the hell is?
You don't seem to be a fan of rational thought and thus express you dislike for those of us "rationalize" but personally I find it more helpful than looking over the fence and whinging about what the neighbours might be upto.
Just my opinion of course but I've never found a way to make money by complaining. If you figure it out please let me know. We can make a fortune.
Now, I'll have one of those house brews please.
NEN Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
