IMO while we await the next TH and results Ann the sp wont go much lower than the 50's even if the Ann doesn't come in the next few days. Actually it wouldn't surprise if a floor was set in the low 60's in the next few days. My reasoning is that there are only 85 mil shares and I'm estimating half of them are being tighly held, that leaves 40 maybe 50 mil being freely traded. With trades in the last week totalling over 200 mil shares those 40-50 mil shares have turned over 4 or 5 times with an ever incresing VWAP in the 50's and 60's. I know there will be some tree shaking but I think the 50's will be a threshold that even the weak hands will not go under with the prospect of some very good results to come from the other highly anticipated 35 holes.
Happy to hear the thoughts of others on the topic of sp levels in the coming days & weeks.
KDR Price at posting:
61.5¢ Sentiment: Buy Disclosure: Held
