It's too difficult to make predictions like this mate. You...

It's too difficult to make predictions like this mate. You cannot say that in the absence of the buyback we would have ended up at $9 because you're data (and inference) does not account for the change in buying behaviour at different price points. We very clearly set a base around $12, suggestive of the fact that buying was always coming in to at least match selling around that price (both pre and post buyback). There is nothing to say that in the absence of the buyback this would not have continued to occur and that $12 would have remained strong support. In fact, when the buyback disappeared we continued to see just that. It was of course briefly broken by the shakeout on the 15th, but recovered fully the next day, and this is actually a very bullish sign.

All you can say with confidence about the buyback is that we now have less shares and they were bought at what I believe is a great price.