Hi JustbobI noticed the action as well, but the trading volumes...

Hi Justbob

I noticed the action as well, but the trading volumes were low averaging around 100k per day. I suppose that this temperate action is being dictated by the lack of sellers.

So far, whoever is behind this conservative accumulation is patient. I also agree with you that it could be just someone's pure speculation. However I do get the impression that they are trying not to spook the sellers into running to higher prices.

Just before the market close I had a quick look at the sellers lots available. Over 79 there were a few around 10K and and two around 20k up to 83.5 for about a total of another 100k. There is nothing to say that the seller will be there tomorrow. It might take all day but they might be acquired and we will see the SP hit 83.5

I also noted a gap beyond 83.5 with nothing of significance being offered until around 90. Maybe with the SP around 83 there will be some profit takers surfacing.

At the start of this year the SP spent quite a while in the 30's. Profit from 30's to mid 80's may shake loose a few profit takers. Who knows?

I had a thought, that at around the mid 60's, if I had a spare $1m and wanted to take up a position in the stock, how would I play out the action and not spook the seller. I think I would settle on a technique as we see playing out over the last few days, although I would somewhere along the line stay out of the action for a couple of days to see if some of the sellers become concerned thereby lowering their expectations and offering price.

Anyway fun watch the SP go up any way.

We shall see.

cheers Lies.