Mode, you are pretty right with 5.7 cents in relation to the longer trend line. I have commented in the past that 5.9 cents as a important average for market makers to maintain. Delays, don't unduly worry me (although I am curious, I am human) given I have a longer, disciplined view. I have picked a few shares up, putting my money where my mouth is. Pressing stops around important fibs or moving averages or trend lines on low volume with after bell trades with no bad news is really saying, "Accumulate more at discounted value".
That is the essence of the games taking place as we wait IMO. But some pros have been relatively unsuccessful in the last few months going by the volumes where the discounted value space has been been crowded out by canny holders who read the play. It seems, they will have to wait longer and probably have to pay a higher price. Through their networks, they understand the timeframes and the reward. Similar to what you have outlined from experience, Mode. But perhaps they have more timely information at hand sourced from having a beer with the subbies or networking to get information and influence matters on behalf of large clients where they can. Remember what Bluegumnuts claimed he did? Its always on. From what I can gather, Peter has been tight lipped because price has been stable in a terrible, general market. Holders are clearly not spilling. There is no bad news, just delay. Nuggie, is anticipating results being delivered soon, as he has topped up. There are multiple projects happening simultaneously, so the odds of bad news in relation to overall development is slight, unless there is a black swan event in the world.
A strategy the pros would employ if it was possible, in times like now, is related to a discounted share value that lies below a mid point of value where share price roughly sits at the moment, is to sacrifice a few shares at their break even point to pressure a spill or create a shake to make up that value and more, at a lower price. They don't want price to go too low in case of news which has been delayed and get caught. Competitors will always buy value when there is no bad news. Granted time is money, and they work on this principle to obtain a discounted value but they know where their long term targets lie which are of greater value. If you have studied accumulation patterns, time is not the issue for position traders or market makers who wait for time to work with them for profit.
SPQ Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
