Looking at the closing price one would have to assume that everything is losing momentum with the stock down 10% so probably time to sell and move on to something else ...
But that is no doubt what certain parties want you to think, a closer look at today's trading makes a strong case for the opposite
On the ASX volume looked liked this:
0.9 - 2,337,692
1,0 - 22,969,014
And over on Chi-X
0.9 - 120,000 funnily enough the closing trade ;-)
1.0 - 17,487,702
1.1 - 1,075,550
Totals across both
0.9 - 2,457,692
1,0 - 40,456,716
1.1 - 1,075,550
So, some serious accumulation with a push down at the close to keep the accumulation hidden to the casual observer.
Over on the OAs
0.4 - 31,514,596
0.5 - 250,000
Which when added to yesterday's 40mn+ at 0.4 makes for 70,m+ oppies traded at 0.4 and above over the past 2 sessions, worth noting that 0.4 implies a break even ex carrying costs of 1.6.
Fairly incessant buying imo ... so the question must be does someone know something or think they know something to which the answer must be yes.
Don't be fooled by the headline close - it masks some real and cashed up buying.
EB
Expand
