I know there was some real and new interest yesterday but it got caught up with 'new high' traders IMHO. There has been 1 reasonable seller as I understand and I think they have the benefit of being able to excercise options to get their exposure back - sensible but if they also sold yesterday there was a little brutality about it - watch for a chunky option excercise notice in the next few weeks to confirm.
As for props - we know the 1m @ 5.2c is real (rogues) and I know who the 2 x 1m bids are just below (they sold 3-4m above 5c yesterday and want them back at the right price - although I think smaller orders might have a better chance of getting filled). That only leaves 1m seller @ 5c nearby - unidentified but left in overnight so I presume real as well. There is a 4m @ 5.5c - consistent with sizeable sell orders that have been left in over recent months and have eventually been snapped up so I am going to say all orders in the market are real - yesterday was different because traders were about and I think someone dropped a bomb on them so they stopped out.
It was exciting yesterday but I think Aug-Feb is the really exciting time.
PYC Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held
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