Yes, very much a "weeding" out of the undesirables in my view.
Could well be the recent placement participants (and indeed managemet) would prefer to see fewer "traders" and more "investors" on the register.
The current market environment, with wide-spread carnage and a few trader "specials" going off such as CNP, really is a perfect environment for someone to flush the undesirables from the register.
It is a process than can often takes weeks...months even...but with the current incentive to chase rainbows so attractive right now, it could well be we are seeing the groundword of a clering of temporary overhead.
There is a point reached in every stock however, where the abscence of news works both ways...first down, then upwards as the shadow jumpers do their thing.
When a stock rises in expectation of news, and it does not come when expected, the dweebs all sell out or fear the news has turned bad...when bad news does not come however, then they buy back in for fear of the good news coming that they were initially waiting on.
All the while, the company's activities have not changed and their fundamentals remain.
Assuming the fundamental drivers of value remain unchanged, we are seeing nothing but a swing based on sentiment alone...which is why buying on such sell-offs is usually a good move if you can wait more than 5 minutes.
Cheers!
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
