I agree Hot Lead. It seems the last week has been low volume "mexican standoff" situation as people wait for expected news.
And as it is a relatively low liquidity stock, if people want to sell, the price does get forced down pretty quickly.
I reckon if there is no news over the next week, the price is likely to drift down on relatively low volumes (say less than 250000 shares a day). If it begins to drop on big volumes it could be time to exit.
Although I am inclined to believe that the 2 US hedge funds wouldn't have parted with $20 odd million each if they weren't pretty sure that everything was about to go ahead. How could they dump even 10m shares without forcing the price down towards 1.50?
Have a good long weekend everyone.
Still holding in anticipation.
Might need some rowers to get us out of the doldrums of the last week.
CMR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
