TA discussion, page-4482

Market depth doesn't always correlate with the off screen activity for AJX so we don't have a clue as to what the thinking is behind the scenes. The past 2 days in particular are a good example of this with no evidence of what was about to hit in the afternoons as some controlled dumping kicked in to take advantage of the steady gains in the morning. This shows in the upper candlestick tails, typical of selling into rises.

Although not one of the early buyers I have held AJX for a long time now and unless we are being fed porkies am a strong advocate for it, the overall picture of the company is a compelling one. I don't think the SP performance can be entirely sheeted home to AJX's credentials, the small caps are struggling, probably a victime of uncertainty about the US and sector rotation in Oz into the banks and mainstream miners.

Have a look at the Emerging Companies Index (XEC) it has been falling since October last year but on noticeably increased volume suggesting that funds have been moving out. To some extent this probably explains some of the opportunistic selling for AJX when good news appears.

Not sure how this is going to play out, probably AJX needs some game changing announcments to break through the fog, maybe the licensing deal or deals are the key here. Hard to see just an announcment about a new order doing the trick unless it involves a technolgical element like cracking the resins market etc.