can everyone please forget the trivialities for a second. there's no use guessing what made them buy. it coul be that maybe they read the HC posts or maybe they just finished drilling their deepest hole at railway only to find it ended in 67.95% fe and in china thereby solving their transport issues.
we need to look at the big picture.
two directors bought nearly 2mil shares today. BF increased his holding by 12% while MVH increased his holding by an incredible 61.29% (good to see he's putting some of that $500k salary back into the company...)
people on here have made mention of the lack of director buying and the resulting lack of confidence and bad sentiment that it implies. well, the directors have now bought. and not just 80k shares, or 200k shares, or eve 500k shares, they bought NEARLY 2 MILLION shares...
i dont know wats going to happen tomorrow, next week, or even next month, and smash, you might be right, the price may fall lower following their purchase today (and here's kinda hoping ur right cos i need a top up) but for mine, this is a strong positive sign for the long term...
and JGPM, further to these guys having the right to protect their shareprice, they also have the right to buy shares in the company they believe in...
UMC Price at posting:
35.5¢ Sentiment: LT Buy Disclosure: Held
