In a perfect world this report should have been released after market to allow proper digestion overnight.
How can anyone, let alone experts be expected to interpret a detailed 20 page document in 10 minutes. 30 seconds a page....You must be kidding...
The report is well detailed, providing great insight and information to it's prospectivity and potential.......
I think MM erred in recognising just how finicky the market really is at times, even allowing for the current bullish Fe climate. I think they made an honest mistake and there is no hidden agenda or subterfuge involved. More likely they were blinded by their own ignorance as they fully understood what they released
We are all looking for reasons and blame as to why the market did not react they way we expected it to. How long did it take them to write this detailed report?? 1-2 weeks perhaps. They obviously knew the potential of the report when they released it as that would have been all they had focused on this past 1-2 weeks.
They are probably more shocked then we are on the selloff. I bet JR is. At least they are in there buying as they consider the current price to be undervaluing UMC's potential..
So has someone else who has had the luxury of reviewing this report over the last two days. Enough time to then go in and aggressively try and pick up a half million between 97-99c. Half successful anyhow.
That seller for 180k at 99c was not trying to push the price down and accummulate stock at lower prices which is how it appeared to me initially. I could be wrong but it seemed an act of desperation to get out.
Whoever bought it was not within the same broking firm anyhow.
To me what it did highlight was that there are bigger players circling who are not keen to show their desire to pick up stock, but will pounce on any reasonably sized sized sell order without putting much upward pressure on the sp. The remainder 250k bid at 97 was left there not in the hope of pushing the stock north and unloading into the higher bids, but in the hope there there were more desperate traders looking to exit large positions.....
I would expect this to happen every time there is decent volume on the sell side close to market.
Proffessional accummulators know that those who bought on the ann Wednesday will either cough up the coin Monday or sell out Friday. This is why they appeared within the last half hour of close. Monday may be much the same as traders entering thursday will have to close out positions Monday. It might take to the middle or late next week for this volatility to settle down and for the sp to find some sort of base before moving further North.
My opinion only.......
I think it has merit as the quality of information coming from bungy, Joelbaby and some of the newer posters to this thread is only starting to materialise now after allowing proper time to digest the report in it's entirety.
Outside of MM what other group other then those of us on here who follow the thread closely would have a greater understanding of the report initially?? The majority of the market don't as that is clearly apparent.... For the better informed and educated it has still taken 2 days to fully extract the information, data and quantify it into numbers and potential tonnages that the market was wanting to hear all along.
I just want to know which one of us on HC was the buyer for 500k cause it sure as hell wasn't me.
Perhaps there are others out there who realise also with much deeper pockets.....Hmmm??
Keep up the excellent posts people....
UMC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
