Thought id start this one. Brobel has been doing some analyses for some time. Here's the latest, which overs all of Fridays 214million shares traded. Seems like a lot of shares moved by not many actually changed hands.... Citicorp Nominees (dont know who the actual owner is) bought around 30 million last week...Citicorp have gone from 65 million last year to 314 million this year. Most of them have been added after the cap raise. 80 million since late sep 2022. ...interestingly, McKusler bought 4 million before the MIN announcement and sold 20 million after the announcement. #3 HSBC added 7 million (that may be where hancock holdings sit) #5 HSBC also added 6 million.
There is another big message here....214 million shares traded on Friday (the day MIN announced)...but not many changed hands in the top 20.... For those that have access to the course of sales data thru IRESS, you will see the trading happened in sporadic, orgiastic frenzies...If you monitor the bid and offer volumes, and look at the rapid sales and off line feeding into the bids and vacuuming the feeds, you will see that there is a whole lot of trading happening in small parcels in split seconds. Sometimes there are single share sales...thats the trigger to ping the other algo to do its thing. My thesis is that these algos, trade shares amongst themselves, and the trading is triggered by small share numbers (coded message to the other friendly algos) and they simply buy and sell to each other...giving the impression of increased volume.
NWE Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
