When I see the kind of bid on SMC this morning - 1m wanted at 14c - I immediately think distribution is at hand. This kind of bid is aimed at creating a huge interest so that a few million shares can be distributed - remember SMC has 200m or so. The share price goes up two or three cents but is met with a high volume of selling.
If you are in it could be the time to sell into the turnover created. Just my humble opinion of course and not necessarily so.
SMC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
