Hi FolksResistance at 73 happened today as half expected.Neville...

Hi Folks

Resistance at 73 happened today as half expected.

Neville backed off today lowering the bar to 69-71 and the sellers came down to meet him. I estimated that he picked up another 100K in that range.
15K early at 70, Another 15k at 69.5 around lunch, at 02,29 30K at 70 and this time in the post auction another 11k at 70. There were a sprinkling of 5k to 10K buys in between.

He is pretty astute. Why chase higher priced sellers when you just set a lower bar and wait for them to arrive.

I have his current total at 550K so far, and has managed to do so without the attention of the day traders. Today's action showed no urgency.

He is in the fortunate position that he appears not to have any other serious buyers as opposition to compete with.

I suppose that he will try keeping the bar in the 69-71 range again tomorrow, for a while to see what shows up. If the action is thin then raising the bar to 73 again could be the solution. Just my speculation based on the acquisition strategy continuing.

We shall see?

cheers Lies