Blaming Arena for the SP drop yesterday is silly IMO. Hell, I could have easily sold 12 million shares yesterday without dropping the market. Massive volume & demand through the day, a 9.9 VWAP, then a fall AFTER CJ presents in Melbourne! .... Think for a minute!!
Country Bumpkins post explains the price movement. Arena would have easily sold off their latest amount of converted shares with 30-odd million traded yesterday. We are seeing buyers retreat because there is no news coming until closer to the auction. I was expecting 2 lots of news this week - Graphite, plus inventory. Both look like being delayed according to CB's report. I was going to buy a trading parcel, but held off. Will maybe buy today in the low 9's.
Move on people, Arena probably sold all their allotment by lunchtime yesterday. We are not in the hands of sellers ... we are in the hands of BUYERS. If you know anything about the market, you will know what I mean.
MUS Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
