Interesting how the market turns a blind eye to the spot price of silver going from 40$ to currently $42.30ish. Even though silver prices are charging ahead lots of selling pressure is occurring today. People panic that the price isn't doing anything and therefore think something's wrong and bail. Exactly what the smart money want you all to think.
Notice how there is approx. 1M shares worth of buy orders between 18c-17.5c. Someone really wants to keep the oppies in the money and set a floor for the next move up. This can also be seen through the accumulation of the oppies as even though the SP has fell 1.5c today there has been no change in ARDOs.
Expect positive movements in international silver markets which should eventually translate into gains in ARD and other undervalued silver plays on the ASX currently lagging behind such as SVL (not meaning to cross-promote just giving another example of a silver play that is quite undervalued on an EV/MC basis). However, above all, expect intense manipulation and share price volatility from the big boys.
ARD Price at posting:
18.5¢ Sentiment: LT Buy Disclosure: Held
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