Big sellers have been offloading for a long time. I expected...

Big sellers have been offloading for a long time. I expected another Form 604 before this, but has not eventuated..perhaps after yesterdays large t/o of shares we may see one.

There is a huge amount of stock in the top 20 (72.85% of issue, >870M), but the two substantial holders only have 23% of issue between them (277M). We could see a lot of selling and no notices.
Figures from Dec 2012 full results...CBA and Aberdeen have both reduced a bit since then.

The total number of shares on offer has been sitting at 750K to 850K without let up since August result.
Even yesterdays big t/o didn't change it. Constantly sits about 400K or more above total shares on bid.
We need to see a big reduction in shares on offer before we see an appreciation in sp.

I've said before, when the sales start to drop off, and especially if there's still 800K on offer, look for price drop to the next trading range level down...I feel there's further to fall yet.

I did mention once before that in the last CBA 604, there was a transfer of 2M shares at $13.68...it's not out of the question!