this dog is sinking again, page-2

Because I've been selling off for a while now

Seriously, if you had a look after hours you would have noticed that most of the buy lines were removed every day quite a while after trading end, suggesting there has been just one main buyer and it always took a while to load up the buys again on the bell, and when it got going everyday this buyer was heavily into algos

If markets are settling, this one plus a couple of other utilities may just be really good solid buys right now, lets see

PIH could pull a rabbit out of the hat, someone else has also thought so

Yesterday,Tuesday
ords down by 0.74% PIH down 4.65%
From 9:37 to 9:41AM there were 3 overseas off market transfers of 1,933,030 each, one of which was a negative,
Etrade had 69,985 trades which is way over what they are normally

Today, Wednesday
ords up by 2.33% PIH up by 2.44%
Etrade today was a total of 1,056 trades
Only just noticed today that the 3rd overseas off market transfer from yesterday was canceled also

So what to make of all this? a total of 3 off market OS transfers all canceled but put through just before market open on Tuesday at 9:37AM - this volume showed up as real trading volume on Iress and also of course on Commsec

Only Pro didn't record these crossings as trading volume, but I bet a lot of people got a surprise with the huge volume showing on the charts and in the depth so early in the day, plus with the ords going down on open

Discounting the off market transfers, 3 of which are now cancelled anyway the trading vol was 485,563 on Tuesday and 270,968 today and if you compare the utilities they all had very similar graph yesterday, but PIH just went further than most