There is always more depth after a capital raise: from the sellers who hear the ANN and want to get out before the share price carnage; to the 3B when the SI's hasten to leave; and then the traders who see what they believe to be some kind of opportunity, based on the carnage. Unless we get the day traders coming by, with tales of PYC's potential, and calling it the next big thing, and in the absence of a proper and significant ANN from the company, together with some visible assistance from the brokers, PYC will struggle.
The market is so full of pitfalls and travails, not the least of which are individual human quirks in selling (fear and whatnot), that have a much more powerful effect on the rest of the market (buyer greed), that we need a few special things to plump up PYC. I mean, PYC might be a special company, and PYCs might be special shares, but so are many other companies on the ASX. As people tend to say, we could do with seeing some "stars align". "Ducks in a row" would be nice. After all, noone wants to "miss the train" (toot toot), when "2012 could be the "Year of the PYC".
:)
PYC Price at posting:
3.8¢ Sentiment: None Disclosure: Held
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